Greedy first home buyers making it hard for investors.

That makes sense for the sixty somethings...but not the 20-35 year olds. What did they do, buy their houses in between Sesame Street episodes?

 

I’m 37 and don’t watch Sesame Street.

 

Sydney Inner West houses that cost $800K 10 years ago might be worth $2M+ today. Say they were late 20s when they purchased, and late 30s now.

 

Yup. Or they can upgrade a few times along the way so they may in have even purchased the most recent place for $2m having made their money on previous places.

 

i read somewhere many moons ago that a few low-income suburbs of Western Sydney had very high cash turnover via the poker machines , now the article at the time blamed out-of-control gambling addiction , what if it wasn't gambling addiction ???

am still not convinced the LNP is the better way to go for upwardly mobile investors , better than two other parties yes . , but we could hope for even better yet , and there is plenty of room on that side of the policy fence

 

Yeah not necessarily family wealth in every case I grant you - but my post was more in relation to MikeyBallarat’s earlier comment.

There’s a sort of weird self-loathing amongst some who are sitting pretty with real estate wealth (self built or via their forebears) but cheer on the ALP to come in and tax everything more heavily in the name of redistribution.

..But maybe I’m probably just a bit too ‘Adam Smith’ in my thinking ..”rational self interest” and all that type of thing (!)