If I was back home, I'd have to spend something like 10 times my gross annual income for a property, and take out a substantial home loan to finance it.
The overpriced housing bubble drives out first time buyers into the outskirts of the city, however with massive demand for inner suburban properties there's always relative stability in the renters market so it's easy to rent out rooms or rent out the property and recoup a substantial portion of the monthly loan repayments.
The idea of being tied down with a home loan in a city I don't respect nor have any long term ambitions in is too depressing for me to consider purchasing property in the near future. Mobility is far more appealing at this age.
The overpriced housing bubble drives out first time buyers into the outskirts of the city, however with massive demand for inner suburban properties there's always relative stability in the renters market so it's easy to rent out rooms or rent out the property and recoup a substantial portion of the monthly loan repayments.
The idea of being tied down with a home loan in a city I don't respect nor have any long term ambitions in is too depressing for me to consider purchasing property in the near future. Mobility is far more appealing at this age.