Yes unfortunately, fortunately being a bit young & naive back when I was young, I packed up & moved to Brisbane & bought my first home when interest rates were at their historical peak at between 16 to 18%
1988 purchase was a modest home for $72,000 & now what I was told way back then by many as wrong & a silly time to enter the market, my initial first home entry into the market is now worth between $1 - $1.2 Million.
Had I done what many my age are still doing now I would probably have the backside out of my pants struggling within the current Brisbane rental market.
And this is in the sleepy market of QLD, I can only imagine if i had moved to Sydney $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
The motto of the story for the long term life journey, is that it's always better to have bought Yesterday, than Tomorrow no matter were the market heading as long term you cant go wrong in personal home ownership
Here's a nice example of BUY - HOLD & RETIRE
https://www.realestate.com.au/property/24-valhalla-st-sunnybank-qld-4109
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