"I disagree with this. I would teach my kids to accept the challenge and start by buying small affordable properties rather than hoping for a crash. I will also try to teach them to make sacrifices."
That's good advice MyProblem, however I don't think this will be possible in Sydney for the average adolescent in the forseeable future, unless there is a market correction or intervention.
In Sydney however, this would mean buying a long way out of town requiring a lot of travel on congested tollways.
Say your child buys one of these properties, they either rent it out and continue to live at home, or they live there themselves and spend hours a day sitting in a car and blowing $40 a day on tolls. Or they rent themselves in town, or near town, but the outgoings on the rent would limit their ability to pay down the mortage on the investment property.
They could buy a unit, but looking at $600K to 1 million in areas that are convenient. That's not starting small.
Some semi-detached places on the market on busy roads say 10km from the city, tiny 2 bed places on approx 250 to 300m^2 going for 1.2 million.
Other options, move interstate or country and try and find a job there, and see your parents a couple of times a year.
