I was listening to FM radio station yesterday morning as I was doing the school run and I heard a comment about a man who'd purchased an apartment as an investment property that will eventually be owned by his son who is currently 5 years old. The radio station were inviting people to call in and voice their reaction to this little bit of "news".
I was staggered by the comments against what this father was doing! It was terrible to listen to, to be honest.
This man's "story" even made the nightly news and some of the printed and online news:
http://brisbanetimes.domain.com.au/real-estate-news/lawyer-buys-710000-city-unit-to-set-up-son-5-on-ground-floor-of-property-market-20131028-2wc2p.html
http://news.domain.com.au/domain/real-estate-news/the-best-reason-for-not-buying-your-child-a-property-20131029-2wdod.html
http://smh.domain.com.au/real-estate-news/lawyer-buys-710000-city-unit-to-set-up-son-5-on-ground-floor-of-property-market-20131028-2wc2p.html
That the man even wanted to share what he was doing with the media is a little curious, but that's not the point right now.
People....we are parents. It is incumbent upon us to provide our children with the best possible start in life that we're able to provide for them. It really is that simple to understand. And it's almost like an unwritten contract that we entered into the moment that the child is born.
It's our responsibility to do this, so good on this man for doing what he's done.
There's no question that prices right now are ridiculous, and history tells us that it's just going to get worse in the future. I always ask myself how on earth my kids are going to be able to afford to buy something when they're adults if I'm not able to help them out. I wish I was in a position right now to do the same thing for my kids as this man has done for his son.
Till next time...
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