Joe Hockey had some very good advice for first-time buyers: “Get a good job that pays good money.”
He’s right in one respect, if you do have a good job (or preferably two good jobs between you and your partner) you have a much better chance of getting and paying off a loan to buy a house in one of the main cities where most people live.
But Joe left out some of the really important bits of advice:
- Get elected to a safe seat in Parliament that way you’re guaranteed a minimum salary of around $200,000 a year.
- Get to be treasurer then you can earn in excess of $360,000 a year.
- Get a partner who is a merchant banker.
- Buy a house in your partner’s name and live in it while you are at work and pay your generous company expense allowance to your spouse as rent.
- Find a way to charge all of your travel expenses to your employer.
Now that’s a way to get ahead in life.