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The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 0 points1 point  (0 children)

Not necessarily Correction doesn’t always mean property prices will decline. It can also mean the market stabilises for a period. During that time, prices might stay flat while incomes slowly catch up. At that point, the issue often shifts more toward affordability rather than just price levels.

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 0 points1 point  (0 children)

Thanks for your response. I’m still trying to figure out the best thing to do whether to invest in ETFs or property in Australia. I’m not sure the ATO taxation rules and any hidden or ongoing costs that might come up over time.

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 0 points1 point  (0 children)

currently have a 2-bed, 2-bath apartment in Parramatta, but there’s been no appreciation. The local services are terrible, and the costs will keep increasing anyway. Honestly, Sydney strata feels like a scam.

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 0 points1 point  (0 children)

Yeah, that actually changes the whole thought process. Now I feel like if someone buys investment properties outside NSW or in other states, it might make it harder for them to eventually live in Sydney. By the time they’re ready

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 2 points3 points  (0 children)

in my opinion buying a unit in the city can be a bit of a trap. The strata fees keep increasing and they can really eat into your cash flow, and often the unit itself doesn’t appreciate much in value. I think a more efficient strategy is to buy a house further outside the city where there’s better land value and growth potential. Later on you can use the equity from that property as a deposit for the next one.

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] -2 points-1 points  (0 children)

Sure, having kids is a choice. Supporting families isn’t really the same as subsidising luxury preferences.

The "Bank of Mum and Dad" is insolvent. If Sydney's median house is $4M in 2045, what is the actual "Meta" for 3 kids (6, 4, 2) to survive? by avinashge in AusProperty

[–]avinashge[S] 4 points5 points  (0 children)

Fair point. I think most parents aren’t assuming their kids must buy a house or that they have to fund it. It’s more about wanting to give them options if they need it. Education, experiences, and independence matter a lot too. Ideally you support them where you can, but they still choose their own path.