Would you help your kids with?

[BigRedV]

Yes.

We will help our kids out. I want them to be financially independent and sensible but with house prices in Sydney so crazy, we will need to help them. I hope they travel too, like I did. They can get an Irish passport so I really hope they take advantage of it.

My mum and dad bought me my first car but I'm the youngest of 6 kids so they couldn't help us with house deposits. My husband already had a huge deposit saved up when I met him with no help from his parents.

[babybeeno1]

When I bought my first unit in Sydney 1992 (I was 21) the medium unit price was $90,000 the house price was $190,000 now nearly 25 years later units are $660,000 houses hovering just over $1,000,000 - can you imagine what they will be when DS wants to buy in 20 years

Exactly this

When I bought my first house in 1999 it was $98k on a 906sqm block. I moved regional nsw for work and rented it out for $180/wk. 2005 I sold it because exdh was an **** and saw no value in it but I did. I sold it for $260k. I also had bought the house I'm in now 12 month before for $440k it's now worth around $700/$750k. The first house was bulldozed by the new owner and he built 3 on the block and sold them for $330k each. 1 is for sale again now for $450k. Those same original houses some sell for nearly $500k and they are crappy old weatherboard houses in massive blocks that get subdivided then sold for $550k a piece on a smaller block. 15kms from the city and 5 mins to the beach. It's very frightening for the future generations. I've recently spoken to my folks to change their wills to allow the grand kids to get a good slice of the inheritance as they will need it more then what I will

[delirium]

I think house prices here in rural NSW are overpriced given the average income of our area (which is only 45k ) But Sydney, my god. We'd never be able to buy unless we both worked literally 60 hours a week.

Feel bad for you urban peeps

[BigRedV]

I think house prices here in rural NSW are overpriced given the average income of our area (which is only 45k ) But Sydney, my god. We'd never be able to buy unless we both worked literally 60 hours a week.

Feel bad for you urban peeps

For us (my husband and I) it's great as we can move just out of Sydney (although still considered greater Sydney) and be closer to work and have no mortgage just by selling and making the most of the crazy house prices here. But it's our kids who will never be able to buy...

[delirium]

For us (my husband and I) it's great as we can move just out of Sydney (although still considered greater Sydney) and be closer to work and have no mortgage just by selling and making the most of the crazy house prices here. But it's our kids who will never be able to buy...

It actually makes me really angry TBH. What makes it so much worse is family that tut tut at us but a) got given the deposit from their own parents and b) paid $100k for a house they sold a decade later for more than double. Even in the bush $100k gets you a nice block of land now and nothing more.

[turquoisecoast]

sydney is ridiculous. surely the bubble has to burst at some point!?

[delirium]

sydney is ridiculous. surely the bubble has to burst at some point!?

I see it flattening out, but certainly not going down. And that is everywhere not just Sydney.

Reducing neg gearing would help but that's a dirty word here *coughs* lol

[BigRedV]

sydney is ridiculous. surely the bubble has to burst at some point!?

I don't think it will crash. Maybe decline a bit or flatline. Nothing will happen until interest rates go up and I'm hoping that isn't until next year when we will have moved

[BigRedV]

It actually makes me really angry TBH. What makes it so much worse is family that tut tut at us but a) got given the deposit from their own parents and b) paid $100k for a house they sold a decade later for more than double. Even in the bush $100k gets you a nice block of land now and nothing more.

And those that are cheap are dodgy

[Tinkers]

For those that say it wont crash, why do you think that?