00:00The market's really high and I think it's becoming increasingly hard for young people
00:07to get a house these days.
00:12We have two young sons in the early 30s who are desperately trying to get into the property
00:17market and even with assistance from the bank of mum and dad, it's proving a really, really
00:24difficult thing.
00:25Cost of living is so high now.
00:28I live on my own, in my own apartment, but my mum helps me pay the rent because I moved
00:33here to study.
00:34I work four days a week and then go to uni one day a week to try and help, but yeah,
00:38I wouldn't be able to do it on my own.
00:40I started a long time ago and prices are a little bit different.
00:43And you're still paying off a mortgage?
00:44Oh, massively.
00:45I've got to hope that I've got enough money in my superannuation one day to finish that
00:49off, you know?
00:50Our first house was like $105,000 or something like that, something ridiculous.
00:55And so our earning capacity was enough to be able to pay that off in a reasonably short
01:00period of time.
01:01I see it foreseeable in my future, probably definitely not in Sydney unless something
01:06drastic wants to change.
01:08Wages are just like left the same while like inflation just keeps getting more and more.
01:13You see so many people living a luxurious lifestyle and you're like, why can't that be me?
01:17The pressure really gets to you as a young person.
01:20The problem is the infrastructure is always way behind the demand.
01:26It's where I live.
01:27Lots of units are going up.
01:29People don't like it, but it's what has to happen.
01:32We have to go up, you know, and unfortunately, that's just the way people are going to have
01:36to live in life these days, I think.
01:37Negative gearing should be completely abandoned.
01:41They've got to look at our tax system.
01:44It's a long time since we've had a government brave enough to do that.
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