new buyers left behind in mortgage rush, page-17

"Yeah right Scotty, Gen Y renting and paying off the mortgage of a property investor is really smart. Not"

I have signed a lease for $600 per week on a house I could not have afforded the repayments on without some loss of lifestyle even with 20% deposit. So tell me again, with the "investor", the "bank" and the "government" making up the difference who is the smart one in this scenario?

Keep repeating mantras like "rent money is dead money" all you like, we have been conditioned to believe it because for most of our lives its been true, but that was before the GFC, and after the US Govt just went bankrupt for two weeks, I refuse to believe the real hurt has been felt yet.

Just an opinion, I am a punter by nature and good luck to you property moguls, but I am happy to sit it out for a while with the cash in my hand.