Aussie house market is fucked

People have gone fucking insane.

Yesterday a person the gym told me that their plumber boss bought a $1.8m house for his son who just graduated year 12.

I thought his boss might be balling, maybe he has a successful business. Nope, the guy has 2 apprentices under him. That's it.

What the fuck is wrong with people? How the fuck are they going to pay for this shit?

Worst case scenario: the bubble bursts, which fucks our 4 major banks, so the Gov is forced to bail em out. So these stupid cunts are rewarded for insanely risky and stupid behaviour. I will fucking rage.

how the fuck does a plumber afford or even have the credit for a $2M house?

what the fuck

house market fucked in Australia too? It's fucked over here as well mate!

Its fucked everywhere. We are going to see another 2008 level crash again.

it got fucked when people started seeing housing as an investment instead of a place to live. You got cunt's living with their parents who own an investment property. I think it's a big reason why people aren't getting married and having kids

>Aussie house market is fucked
Only if you're in Sydney, Melbourne or Brisbane. House prices are actually decreasing here in Perth.

But then again, Perth is a shithole with no jobs and WA is in recession, so housing isn't really affordable for locals either.

Bloody hell, there's an housing crisis going on and governments have the audacity to give Mehmet they keys to a new house?

It's not that hot. Trying to offload a rental in a rural area for $400k and no cunt looking at it. So just using it to get a shit tonne of tax back a year.

He owned a property.

That property most likely increased from anywhere from $500k-$1M in the last 5 years.

He used that increase in equity to as a down payment onto the new property. He now leases the property out and the rent more or less covers the payment.

If not then negative gearing.

Holy fuck you are stupid cunt.

Leverage. He already "owns" a house and two apartments. So this is 4th property.

Almost certainly none of them are paid off though.