A friend of mine in his mid 30's just sold his house in dandenong so he can rent a place in frankston to be closer to his work and the beach. He's banked the cash and says his $1500 a month bank interest covers his $300 a week rent. While he knows he's missing out on any potential capital growth he's enjoying his new townhouse and says he sleeps well knowing he's banked a good profit and gets to move where he wants to not just where he can afford. Which is fairly limited for people in there mid 30's here in Melbourne.
