MasterOfReality
After forever
It will be company subsidised. The people who are laughing all the way to the bank are those that bought those shitbox houses for $70k 10 years ago and are leasing them out to BHP, Rio, Fortescue, who in turn put their workers in them.I also have thought about going west or maybe north. But what has put me off is property prices/rental prices.
In a small dustbowl of a town in WA near a mine you will pay around $750,000 for a crappy 2 bedroom house. I mean a real shit hole. A nicer 3 or four bedroom place will be $1.25M+.
Just rent, I hear you say. That same 2 bedroom shit hole will set you back $1500 a week.
So how much can you earn to make it worthwhile?
The average return is around 11%.
Nobody I know pays $1500 a week rent, there is simply no incentive. They earn big money, but its not big enough to justify $1500 a week rent.