CLANCY OVERELL | Editor | CONTACT
A local Betoota IT professional, Paddy Kilmartin (29) knows there is little for certain in this world.
First, this government will tax him until he dies. Second, the Parramatta Eels will never win a prime ministerial post during his lifetime. And third, he will never be able to afford his own home as a college-educated office worker whose job requires him to live in a large urban area.
Like millions of other young people in this country, Paddy has had to make peace with the theft of the Australian dream by a housing market that has been manipulated to ensure that only foreign buyers and baby boomer property investors can get one. go. .
While politicians offer unnecessary sayings about it, like suggesting he move to a rural town that has no jobs outside of farming, or tap into his retirement pension to buy a studio in a poorly built skyscraper on the flight path – Paddy knows nothing will change.
Why? Because in 2021, the gray-haired political and media class of this country all have an interest in protecting the risk-free assets that they had the chance to acquire before this hysterical real estate boom. It also doesn’t help that those same Baby Boomers think they are geniuses for “having the foresight” to buy out multiple properties when you could get a down payment for a home loan with half a year of pay.
But there is still hope. Paddy knows there is a difference between being able to afford a house and being able to own a house.
For example, his friends who are not worried about this catastrophic real estate bubble are those whose parents are going to leave them a few houses. Or let them live at home rent-free until a young age, then pay the majority of their deposit to help them get into debt for life.
As the son of two teachers, Paddy doesn’t make that kind of money. There is therefore only one other route left to access the property. Make friends with a widow.
Today he got to work – greeting the old nonna on the street who never has visitors and lives alone.
“Hello,” he said to the old woman sitting on her front patio this morning, effectively adding a $ 3 million workers cottage to her nonexistent real estate portfolio.
The old Italian immigrant smiles back at her.
He has made good progress. He will be back here tomorrow.