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It’s f**ked mate. The amount of debt these young people are in is ridiculous. I just cannot bare to to see my own kids go (long term) in silly debt for some dog box with rising strata levies in a dodgie building. That’s why I have to help them whilst I’m still here.
They are lucky I can.
Average new mortgage in Sydney is 800 f**king k, that's not a problem if you're hitting the top tax bracket, but if you're on average earnings, @ 6% you're paying 48k in interest.
So for a young couple doin' ok, one of them is spending all their f**king take home pay servicing the mortgage.