Push on housing crisis continues

To double-clarify – he didn’t pay my hecs debts, he paid my HECS upfront. Which is the same as ensuring that I didn’t incur a HECS debt, but not phrased as awkwardly…

In my case, maybe I need to clarify – he had his mortgage on the house by the time he was 28. Yep, he was still paying it off after that point.

When it came time for me to make a deposit, he was more than happy to put some of the money away (and to pay my HECS debts, and to pass on money that came down in my grandparents will), largely because, as he puts it, he can’t take it with him, and he doesn’t really need it at this time in his life.

Of course, for many people, that ain’t an option, and they don’t have it to take with them, or to hand on. I’m fully aware I’m a very fortunate customer here…

VYBerlina – who held up the EBA for teachers? The baby boomers.

Who pays HECS debts? It sure as hell isn’t the baby boomers.

Mael, it’s because I don’t need “mummmy and daddy” to help. I’m able to stand on my own two feet without their financial assistance. Unlike either of my sisters (both 1/2 sisters) who are leeches on both the public purse and my parents.

“whilst protecting the baby-boomers.”

Who do you think pays the most tax? When you are older, and have managed to get a house, and perhaps a larger income, the govt will be more interested in your needs. Fair? No. Reality? Unfortunately yes.

wow, such variety of exceptions-to-the-rule mothers and fathers. Good for you all.

Given your parents financial actuity, it’s rather surprising on account of them owning their own houses by the time they were 28, that they didn’t have the resources to buy your house outright when you were 20/21.

Oh that’s right, they didn’t. Probably cause they couldn’t. I’m not about to go delving into speculating on your parents financial situation, but it’s evident that something’s missing in the puzzle, otherwise what have they been doing with all that mortgage free income for the last 30 years ?

Don’t start any family feuds on my account though.

whilst protecting the baby-boomers.

Mael, my dad bought land near Penrith in the mid-70’s when he was 24.

My mum and step-dad owned a house in the late 70’s before my mum was 28.

I don’t see the point in such exorbitant prices for a bit of dirt and some bricks and mortar. I don’t want much, just a house with 4brs (middle child is a boy or I’d buy a 3br).

And I am 30yo and still saving a deposit because the damn prices keep going up.

Then again I’ll most likely have to pay for my children to go to University because this Govt is hell bent on screwing every cent out of the Australian people.

Good point LG. The CT is an argument in itself against media consolidation.

“And the CT appears to be providing nothing more than free PR.”

I didn’t know CT still wrote articles… I thought they just ‘reported’ directly from government / business media releases word for word.

Actually, my dad bought his first place by the time he was 20 (admittedly, it was an apartment) and had a fully-grown house by the time he was in his late 20s (the house I grew up in, and the place he stil lives in).

Then again, he lived in a market with free university education and a high demand for labour.

Still, I had my deposit for my apartment by the time I’d worked two full years (at 25) and have almost paid it off, so it’s not actually impossible. All it requires is discipline … and a fair chunk of luck (including a bequest from one grandparent, purchasing before the boom in 1999, not having the expense of children and a personality that borderlines on the stingy).