yes I know, it is a brave new world out there now....where nothing is the same as it was in the good old days.... you know the great days of the early baby boomers, when rates were 12-18%, and the boomers still went out and bought their homes......which they used as nests....not as a form of investment....
wake me up when our population becomes Europeanised.... ie when the majority are renters for life and less than 50% are owners
we still have a substantial Australian born generation, that just keeps on doing what their parents did, and that was buy a home to build their nests....even the many generations, of our European immigrants that came out in the 1950's, aspire to the same goals, of following their parents, and become home buyers rather than renters...
the young may delay nesting for a couple of years, but they are not going to become renters for life... so if home prices are still high, they will move out where the homes are cheaper....because it is in their nature to marry and nest, until the babies grow up....
so unless there is a huge change in attitude to marriage, I cannot see young marrieds sharing a house with the olds, whilst they raise their children.....
I know some gen Y and gen X, have delayed it all, and still living with the olds, well into their 30's and 40's...but I believe they are the minority.... and look how far behind the odd ball they are, when it comes to paying off that house....like taking out a fhb loan at age 40, puts them 15 years behind, the average 25 year old, who would have almost paid off his house by the same age... then we need to add the Asians to the list of people who prefer home ownership, rather than renting....and they are increasing their population in australia.... cheers
