> the fact the you buy a house (or many houses for that matter) and the rent them out is completely beyond me.
That is a very strange statement to make. I live in Germany and I am pretty sure I am paying my landlord every month some money. If fact, she owns my whole building of 6 apartments. Many of my colleagues are in the same situation as me.
What was your experience when you were living in Europe? did you live with your folks until you are ready to buy your own place?
I think the norm in Europe has been to rent for some time and as such tenants have more rights. Until recently, if you were renting in Australia you were in the minority and the rights of landlords seems to be skewed above tenants. Leases are usually a year and rarely any longer which can lead to instability for some tenants. Not to mention that tenants often aren't even allowed to hang pictures on their walls.
I grew up in Melbourne, Victoria, so I can appreciate the differences between the European vs the Australian renting situation.
The one thing that I like about German style is that you almost "own" the place you are living in. Eg, it is expected that you would give the place a coat of paint every 7 years, the kitchen is for you to fit out, (yes, you have to provide your own kitchen), repairs that cost less than 400€ are your responsibility, the rental agreement does not have an end date etc.
The conditions for renting here are so good that I have family friends that have rented all their lives. However the low interest rate in Germany makes it more financially attractive to purchase a place.
That is a very strange statement to make. I live in Germany and I am pretty sure I am paying my landlord every month some money. If fact, she owns my whole building of 6 apartments. Many of my colleagues are in the same situation as me.
What was your experience when you were living in Europe? did you live with your folks until you are ready to buy your own place?