Try setting yourself up for retirement by investing in something that is going to produce wealth for the nation as a whole. By artificially biding the price of property out of the buying range of the next generation, how is that helping the wealth of the nation?
Maybe it`s just me, but i feel there is something wrong with how this country is going at the moment. Over the last 10 years we have greedy baby boomers and generation x,ers who have created a false market in property, through buying more than one property, and then making out that they are providing a service by renting it out ot someone who has been priced out of the market by the speculators in the first place.
Housing is in it`s most basic form Shelter. What right have those that have money got to deny the next generation of being able to afford such a basic necessity.
The bulls can keep playing pass the parcel, but the music will stop sooner rather than later as it has done in every other part of the world, what makes Australia so different?
Interest rates will go up and yes alot of innocent people will suffer along with those self centered people who fuelled this bubble, but i would rather see the plug being pulled now on the generation responsible before it sucks anymore younger people into a life of higher than average debt.
Property is an unintelligent persons idea of being a professional investor, which is targeting capital growth from the next person that thinks flipping property is their way to riches.
Like i said, maybe it`s just me, but i would like to live in a world where my children and childrens children will be able to afford to provide shelter for themselves,
