I live in north eastern qld; the biggest real estate hotspot in the country... the mines are going berserk, and if you're not a miner on 100k, and not already in the property market, then you dont have a hope in hell. Like me. Property has not been an option... but thats ok, coz there's alot more out there.
Im 24 and only started full time work about 4 years ago. I knew i wanted a skyline & then I would be happy to nuckle down and save. So I bought one straight up, paid it off within 12mths, and then saved my arse off. Now I have near 100k diversively working for me... shares, managed funds, touch of property. Not to mention I have no debt & dont earn a mint.
It comes down to planning, and what you want. Sure, my car doesnt run 10's, and its sometimes hard to see your mates latest & greatest mods... but I dont want to work forever, and i figure if I put in the hard yards now, I may be able to enjoy such finer things later in life.
Curse the gtr temptations left right & center.