i’m 25, and the friends that were able have taken out a line of credit in the past couple years and used it to buy a house

you can’t lock in interest rates here for longer than 3-years really, and fixing rates also comes with some fine print too

a lot of them are now starting to feel the pinch of high interest rates, and large repayments

but, there’s no good option -

you could sell at a profit, but you would then still have to buy something in this higher market (and cop “stamp duty”, i.e. a hefty home sales tax)

or, you could sell at a profit and try to rent, but there’s no rental supply, vacancy is like 1% or something across the entire state (and i’ve heard stories of property managers getting offered cash in hand bribes just to make sure the property goes their way)

the rental i was in with my partner was sold on us, and we’ve essentially been forced to move in with parents