I’ll start, I bought a shit box of a house. Every morning I wake up , I regret purchasing the property. Paid $650k for a duplex(107sq.m), strata title.
I’ll start, I bought a shit box of a house. Every morning I wake up , I regret purchasing the property. Paid $650k for a duplex(107sq.m), strata title.
Also an old run down house, in 2014 at the peak of the market. Barely managed to refinance a few years later without getting nailed with LMI because the property value had dropped so much. It’s really only returned to what I paid for it recently. While I empathise with people who want the real estate market to crash, realise that the people who get fucked in that scenario are those on the bottom rung of the ladder. Not the people sitting up the top.
What I want is probably impossible: static real estate prices and rising wages.
Still if I had done it differently, say bought a newer place and further out, I’d probably have cursed my commute every day instead.
You point to the only solution to the real estate market we have. It aligns with the self interest of the most people possible.
Of course whether a government ever takes the steps required to induce such a situation is another story.