I went to an auction this weekend,
And talked to the people bidding.
A market contagion became apparent.
A few of the young couples bidding were not able to get the deposit all by themselves,
Despite saving well.
So they had dipped into the retirement savings of parents, on both sides of the family.
That's 2 trained professionals, with 4 retired people all contaminated by the 15 to 20% housing inflation.
If you don't count the kids that will soon arrive and the other siblings (of the young couple buying).
Not good.
And talked to the people bidding.
A market contagion became apparent.
A few of the young couples bidding were not able to get the deposit all by themselves,
Despite saving well.
So they had dipped into the retirement savings of parents, on both sides of the family.
That's 2 trained professionals, with 4 retired people all contaminated by the 15 to 20% housing inflation.
If you don't count the kids that will soon arrive and the other siblings (of the young couple buying).
Not good.
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