When housing is the main investment in this country it is not hard to see why... Given the massive returns in the last few years you would be hard pressed to find a better investment.
The problem is that you now have a generation forced to borrow for higher education and facing the fallout of the GFC which has meant that high paying jobs and wage increases each year are no longer a thing.
I'm 29 and have seen only 3 wage increases in the last 7 years.. I work long hours and have clocked over 40 hours overtime this month alone!
But because of my Student loan the government takes a considerable percentage of my overtime and regular pay that never arrives in my bank account...
On top of that If I try to take a weeks pay in the hand then again a considerable percentage of that is immediately taken for my Student loan.
Easy to dismiss this with the "I remember the mortgage on my first house ..." .. How about start with 40K in debt and a housing market that forces you to pay $550,000 for your first house
Now start on 40K a year and have no support from your parents who also rent and struggling to make ends meet..
On top of that now throw in the huge threat of Interest rate hikes on a $550,000 mortgage you paid for a house falling apart.
This is what screwed means for the current generation (I'm not asking for a handout just a chance in my own country to own a home) .
"Oh but it has always been hard" whatever, go back 4 years and your see places in Auckland for 350 K.
No one cares about our generation and it will come back to bite them when we find our voice....
Originally Posted by NeverQuestion
When housing is the main investment in this country it is not hard to see why... Given the massive returns in the last few years you would be hard pressed to find a better investment.
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