goodbye young aussie home ownership, page-266

john risk
Well after roughly 40 or so posts on this subject you have failed to convince anyone about anything. In fact you seem to have 2 bob each way when it suits you.
The facts are that nobody is right or wrong on this subject.
Australia is a land of equal opportunity.
Australians are free to choose any form of investment.
Some Australians choose not to invest.
Some Australians choose not to work.
The people who choose to invest in any play make calculated risks. Some make mistakes and go bad, some have moderate success whilst others have great success. The successful ones quite often go further over a period of time and GROW their portfolios. These portfolios could be property, shares, vintage cars, coins or anything else of value. We have a choice and have the ability to research the historical performance of any investment, especially property and shares. History shows that irrespective of the crashes, peaks and troughs in these types of investments natural growth continues. Crashes and troughs provide opportunity.
Having the guts to get in and have a crack is the main issue. Some people don't have it in their make up to have a crack, whilst some go in gung ho head first into guaranteed strife whilst others do it smoothly with great success.
Young folk who choose to buy a home and expect to pay it off over 30 years will probably struggle from time to time.
IMO under normal circumstances you need to trade your home 3 times before you get rid of the mortgage. Once that happens you may well be content, or your success will more than likely encourage you to portfolio build. Similar scenarios exist for share portfolios and or other assets.
Nothing wrong with building personal wealth by whatever means. Importantly we have a choice in that decision making.
Some have made a motza out of property whilst others have creamed it on the equity markets. (who cares)
I remember my late mother telling me back in the mid to late sixties.
1) If you can help it, never be dependent on others.
2) Never be an incumberence on others.
3) Home ownership is the first step in avoiding the above.
4) It doesn't matter what you end up doing in life as long as you do the very best you can.
People who post on here reckoning that property or shares or any other investment is going to do one thing or another are only forecasting or in any event guessing. I would encourage any young person to have a crack after researching the subject investment because if you don't you will be one of those people requiring the social assistance that john risk often refers to.
For me property came first and once I arrived at a certain level a solid income producing share portfolio was worked on underwriting my retirement at a reasonable age that allowed me to join a service club that looks after the less fortunate that john risk seems to constantly worry about.