As the 1980's bubble came to an end I noted that Japanese families were taking out multi generational mortages to buy property. IE. two generations of the family mortaged their future to own property.
At the time everyone thought it was a necessary trend, after all property is hard to come by and why not have two generations of workers pay it off.
Lol..........what has happened since then is a lesson for those embarking on a long never ending mortgage to own a tiny terrace or wood rot enclave in melbourne.
Why do u think Melbourne is above and beyond the Japanese experience? What are the industries and wealth generational businesses based in Melbourne that will sustain a property market that resembles a orderly growth investment rather than a ponzi scheme?
proof of the house price bubble, page-39
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