I work in the mining sector, earning good money and have done now for a decade. Earlier this year I paid off my housing loan on my lovely 500m3 3x1 property in Kingsley. Its a modest house that we have slowly renovated - only the laundry and toilet to go!
When I look around the sector and wider society in Australia, I am finding peoples desire to take on (in my opinion) crippling levels of debt just astonishing. For example I work with at least 5 individuals with circa $1m of housing debt spread over only two assets (family house and unit/rental).
I am beginning to feel like the odd one out - internally I feel like maybe I have missed a trick?! How are these folk so blaise about being in so much debt and with a family to provide for. Personally, I have only took out $350k worth of mortgage debt and even this used to worry me a little from time to time when I first started the steep climb to pay it off!
Have younger Australians just become numb to the reality of huge debt through university fees, then housing expectations etc??
... dont even get me started on building a 5x3 $750k dream home in your early 30s....!
