pasqual, I have been wondering, about the current sentiment from the bears, is it possibly a social and cultural change...a dramatic shift from the early days that has created this divide, this huge disparity
the young ones have been encouraged to emabark on a uni course, then travel the world, party and live it up...they have not been educated, or trained in a financial sense...did their boomer parents, offer them unrealistic goals, and a mothering attitude for the rest of their lives.. did the boomer parents, say, dont worry about anything, we will give you everything you will ever need, including a house, unlimited financial support for the rest of your life, all you have to do is get a professional career,,,,no lowly paid tradie in our house for you...
compared to my parents, who made us work for everything... they taught us how to fish, or be independent...instead of molly coddling us...and feeding our bad habits...
in my day, most younguns became tradies, or the dedicated went to uni for the start of their careers
for eg; I was a young adult during the 70;s, I was married at 18, bought my first home at 19, had it mostly paid off by the time I was 30...then I finally decided which career I should embark on...and commenced my studies...at age 30
I was superman during those years, working full time, studying at night, living on only 4 hours sleep per night.. within 10 years I had set up my own business, and practice after working for a big multi national firm,for the first 6 years
in the property world, house prices either double or triple every 10 years...depending on the location.. so I guess I was just simply lucky,by following my parents advice to buy rather than rent... compared to todays kids, I had delayed my career, and gained a tripling of the house prices...in the process
I can honestly tell you, the price of houses was the furthest thing from our mind in those days....
we lived life, we partied, we raised our family, we embarked on our careers, and future business,,,
possibly the biggest gift I received, was when the banks agreed to finance my business, based soley on my past history, of acquiring a substantial asset, by way of housing...
today the kids are still at home, or renting, until they are 30.....or even 40...partying, and then complaining, they have missed the boat...they want and need, demand some one to bail them out.....they blame their parents, for indulging their fantasies..... time to get real....just like the banks and the free credit...it all comes at a price... the answer is taking reponsiblity, for your own actions
