I have a cheap place i bought back in 2001 in a regional town i now rent out. I now live in Melbourne and would like to buy something to live in rather than renting like i am, im just to scared to get a loan for 500k... would take me for ever to pay off on my wage and if interest rates go up id be screwed big time and then there is the loss of capital that would come with it.. my parents had it much easier... 2 years full wage could buy a house, now its about 10 years full wage
