We Bought a Crack House

Re:We Bought a Crack House by madeofpalk on Monday June 05, 2017 @06:29AM (#14486524)

This is a common meme in Australia as well with the 'housing affordability crises' that's happening here (as well).

"See! Buying a home is so easy! All you need is your parents to give you tens of thousands and you're set!"

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Re:We Bought a Crack House by ryankennedyio on Monday June 05, 2017 @08:22AM (#14487064)

Just for a reference point on how ridiculous Sydney is; $4,900,000 AUD will buy you this[1] about 50 minutes from the CBD.

The mortgage loan book of the 4 major banks here is hovering at about 50% interest-only loans. Nearly 1 in 3 people lie on their mortgage application too [2].

[1] https://www.domain.com.au/26-south-street-strathfield-nsw-21... [2] http://www.abc.net.au/news/2016-10-07/mortgage-fraud-systemi...

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Re:We Bought a Crack House by maxxxxx on Monday June 05, 2017 @08:52AM (#14487209)

I am also entertained by people who can raise a few hundred thousand from friends and family to start a business.

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