COST OF LIVING

 They are reporting that the cost-of-living pressures have limited the savings capacity of first home buyers (FHBs) with 24% of them saving less than 10% of their take home pay.                    (Well I can tell you stop ordering uber eats, make your lunch, stop buying clothes and everything else that you deem necessary)

From what I know the parents have now stepped in and are buying their kids properties to live in as they cannot even get a rental. (I just hope they are charging them rent as they will not be learning how to budget whatsoever). 

I think that it's a big adjustment from thinking you can afford a "house" then adjust to a "villa or a townhouse" now their only choice is an apartment and they are not liking the prospect of living in an apartment.

The idea to some of moving "out of the Western Suburbs" they just cannot bear it as they have lived in the area for over 25 years, they have all their friends, socialize and play in the Western Suburbs and it's all to over whelming for most of them but it's quite frankly a reality unless Mum and Dad come to the rescue.

The scary thing is though that a lot of young people are not thinking about further rate rises (they may not happen but what if they do?) and if they go up by .5% it could mean the difference of them eating or not eating.  

When young people come to buy from us we make sure that we put them onto a responsible broker that will allow for those things in their calculations.  Learning to go without is a very rare thing for this current generation as they are used to having everything NOW.

They say that the cost of living is hitting them hard but I dont see anyone pulling back, with the restaurants all full, pubs are still getting people through their doors and there are still plenty of people buying from the retail shops.  Until I see those places empty then dont talk to me that the cost of living is biting people.

My advice is buy something in the Western Suburbs, live in it for six months then go back home to save (sorry Mum & Dad).

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

KEEPING IT REAL IS OUR MOTTO!!