I almost choked on my dinner after your comment about living the high life on 15 grand(it was mainly rice,very cheap).If you want to raise a family on $300 a week then be my guest,most people can live on a budget but $300 is poverty like living.
I dont mind differing opinions on property but your current argument is plain stupid.Do you really believe that the economy would function if there were large numbers of people paying more on a mortgage than they put into the rest of the economy just to live.
Our current housing market is going to cause major problems for Australia for years to come(imo).If it rises any further we are locking out the next generation of home buyers,even at current prices the average income earner needs to buy in the boondocks to be affordable.If we see large drops in prices those who are in for more than 75-80% will suffer greatly.
I could go into the above in greater detail but its futile on this forum as most people are set in their opinion.Whilst i believe savy investors will still make money from property the average joe is in for a very rude awakening.
The very fact we are discussing how cheaply you can live should ring alarm bells,we have low/normal interest rates and many are struggling,if the banks run into funding issues due to problems O/S and interest rates rise we are in big trouble.
