Quoted in the Sydney Morning Herald – They’re not sponging, they’re saving
The journalist Sylvia Pennington was writing about the difficulty for people in their 20′s to purchase property compared to 10-20 years ago. I provided comment noting that these days with median house prices over $1,000,000 in many suburbs in Sydney, from a financial planning perspective, it is very difficult for people to purchase their first property without support from family. 10 years ago I would see my Sydney Financial Planning clients buy property in their early to mid 20′s and pay off the loans sometimes by age 30. Whereas today, when providing financial advice to clients at age 30, the majority have not purchased a home, let alone pay off the loan!
You can read the full article below: