new buyers left behind in mortgage rush, page-9

@Justis, out of curiosity, at the time when you bought your $38k property, how much were you earning p/a?

Seeing as a FHB now needs to take out a loan at least 7-10 times their yearly wage, do you think this is fair (or sustainable for that matter)?

What sort of social implications are there when debt slavery is required to have a roof under your head?
In olden times, the old folks would live with their kids when they got to retirement age, nowadays the kids are shipping them off to nursing homes.

What will gen Y do?