With the surging costs of homes in Australia, more young people are relying on family to enter the market. It has experts concerned about deepening class disparity.
It’s terrible that we’re regressing towards a pre-1850’s society, but also ridiculous is that all this does is drive more money into non-productive housing.
Say want you want about the US, but at least there the dream of wealth is underpinned by the idea that you start a business doing something useful.
The Australian dream of wealth is flipping houses.
Surely a lot of “influencer” dreaming ? Getting into housing now is capital intensive.
I’ve only ever had a house to live in and invested elsewhere but back when I had a business (decades ago) they wanted a lein over the house in case of default, so it’s hard getting capital to start a business as well, sans house.
It’s terrible that we’re regressing towards a pre-1850’s society, but also ridiculous is that all this does is drive more money into non-productive housing.
Say want you want about the US, but at least there the dream of wealth is underpinned by the idea that you start a business doing something useful.
The Australian dream of wealth is flipping houses.
Surely a lot of “influencer” dreaming ? Getting into housing now is capital intensive.
I’ve only ever had a house to live in and invested elsewhere but back when I had a business (decades ago) they wanted a lein over the house in case of default, so it’s hard getting capital to start a business as well, sans house.