Are you entitled to a mortgage?

You are certainly entitled to your own opinion, but matter of the fact is, many young Australians are much better off without the in-flood of immigrants.

Although I'm also an investor in this market and benefit from surging immigration which tend to push up prices, I find the attitude of some people highly disturbing to say the least. There is a reason why even Scott Morrison has indicated he would cut immigration.

 

Option 3 - revise the expectations. FHB who traditionally wanted new houses would buy on the fringe of the city, in new estates or very basic houses.

IIRC, my first house was 2 beds, in original condition (about 70 years old), hadn't had a coat of paint in all that time, instantaneous gas over the bathtub, no hot water anywhere else. Outdoor laundry with concrete tub. The bonus was it had dry rot as well as wet rot.

 

So what !, I bought about 20 properties and couldn't afford to live where I want. I lived where I could afford. I also know lots of migrants who borrowed money to come here and owned nothing, They did nothing but work, worked overtime, didn't spend money on coffee, restaurants, travel, TVs or alcohol. Shared housing. After 3 or5 years many bought their own houses. Where are all these rich migrants ? Probably where you cant afford anyway, if they really are Rich.

 

So can you tell me who are in Australia not a migrant to this country?

 

Tell them to “suck it up” .

Buy somewhere else

 

99% of Australians are migrants.

200+ years ago the native population was minimal.

Although we have to be careful.

A refugee or a migrant.

2 very different things.

 

As FHBs with two incomes and no kids, we bought a sh*tty little 2 bedroom fibro house on the side of a main road because that was what we could afford. We were smart enough to NOT buy a sh*tty little new brick house 40-50 Kms away from the CBD for the same price.

A property boom happened and that little house doubled in value one year. We sold it, paid off the remaining mortgage and had enough cash for a 50% deposit on a small brick house that other folks would call a First Home. That was 30 years ago with one income and two kids.

We needed 50% deposit. Not even Sydney

 

This is a very naive view as you are assuming that somehow resources are fixed and by allowing more people in, existing population will have less left for them.

As you are an investor, think about it this way:

A child born in Australia is a highly negatively geared investment for the government. After 20+ years of health/schooling/infrastructure expense, they start paying back in the form of tax revenue and most won't break even until 30s.

A skilled immigrant is a positive cash/tax generating asset from day 1 that also requires zero down payment to acquire. It's such a no-brainer when you open your eyes.

As a matter of fact, young Australians are much worse off in exactly those parts of Australia where there are low levels of immigration and we wouldn't have needed migrants if some of those worse off had studied a bit harder to train as GPs, engineers, doctors, accountants in the very first place.