Help a young man with a decision..

[brad]

that reply makes ZERO sense. unless you are fishing?

the guys has asked advise - he is receiving many and varied responses, aside from yours - which is pointless (yet rather funny..).

Ideo's reply made perfect sense to me.
Market slowly entering recovery - how many times have I heard that from a broker or real estate agent in the past 3 years. sheesh

[greasykitchen]

I've no advice other than to say for a 24/25 year old you're doing pretty well (esp at $75k). I'm 10 years older and I've only just moved into that income bracket (after many years of study and now a PhD) and just bought a MkV. (When I was 24 I drove a '72 Beetle, lived with my folks and barely had any savings. These kinds of decisions were just not on the horizon for me and many people my age.)

So, I'd say don't rush into anything - there's plenty of time to think it all over and make the right decision for you. You're still young and have plenty of resources at your disposal. Houses aren't going anywhere, nor are cars. Most likely there'll be both out there to suit your needs and budget when the time is right for you.

[MariusGT]

Ideo's reply made perfect sense to me.
Market slowly entering recovery - how many times have I heard that from a broker or real estate agent in the past 3 years. sheesh

sure it sounded like a sales pitch. and taking the OP's age into account i suppose a splash on a car is no great surprise - many of us have done it.

in hindsight though i should have thrown a bit more $$ at real estate than wheels when younger. I corrected my priorities about 5 years ago and am reaping the benefits now with capital gains and a booming inner west (sydney) market. My MKV is leased for tax reasons and all is swell.

end of the day you need to make a decision based on your goals and financial position. Either way you technically win - option one you have a foot in the real estate door, option two a great car.

[Ideo]

Ideo's reply made perfect sense to me.
Market slowly entering recovery - how many times have I heard that from a broker or real estate agent in the past 3 years. sheesh

That was my point.

I work in the field (land release/planning side of things) and the market is slowing more and more evey day. New approvals are going down, sales are falling and a lot of smaller, and some bigger, developers are in trouble.

It is a very uncertain market, and the Australian property dream may soon become a myth.