Yeah I'm up and down Stud Road on my way to and from work from Thursday through to Monday every week. Gimme a wave if ya see me. Also, I totally agree with the comment that people my age want to move from mum and dad's into a mansion. Plus, they all want to drive mad cars at the same time. Most of our parents started in 10sq shacks and it has taken them 30 years to get into a $500k + property. I deal with plenty of people my age where I work who want to get into something brand new straight away. They both have good jobs and a good income, however they'll shrug off a 3 to 4 year old property, even though it's the more sensible buy, almost every time. "Oh we payed a lot more than what we wanted to." Yeah, no sh!t, now if you knock up your girlfriend and lose one of those incomes for 6 months, you're fuked! Rent is 100% interest. If you purchase a house and even pay interest only for the first few years of buying, at least you still have equity to play with. When your salary or budgeting sorts itself out, you can start paying principle.