Samuel now understands the pain of many in his generation after being forced to dip into the generous trust fund set up by his wealthy parents to buy a house.
It comes after father’s portfolio took a bit of a hammering when the world decided to cack itself lately. Sending stock markets down and interest rates up.
Samuel who had to “settle” for a $3.5M property told The Times,
“I think many in my generation have had to make sacrifices. Look at the steaming pile of shit I bought. Doesn’t even have an infinity pool or triple garage. I even had to draw from my trust fund for part of the deposit”
It’s a classic story of a young Millennial dipping their toes into the property market only to realise they really can’t stand the heat of the simmering property market. Like so many, Samuel got burnt.
Samuel’s father said it was a hard lesson for the boy but ultimately it’s better he understood that western suburb’s mansions don’t grow on trees and sometimes you have to be willing to sacrifice some of the money you didn’t work for to get that dream. He added,
“At least now when he speaks to the media about buying his 2nd house at the age of 22 he’ll be able to feign sincerity a little better. He loves that trust fund and will proudly tell the media that he never withdrew a single dollar for avocado on toast from it”
We tracked down a young couple who despite years of sacrifice and saving are still largely priced out of the areas they want to live in. They said they drew inspiration from Samuel’s story. Melissa told The Times,
“I think about all the nights we cried when our offers were rejected and we’d see another modest dwelling slip from our reaches but it turns out we don’t have it bad at all. Sammy will have to park his 3rd car on the verge, that’s harrowing stuff”
Similarly, a man forced to live in his car while navigating the brutal property market told The Times,
“You gotta hand it to a brave man like Samuel. It takes serious grit to open yourself up and pour out your hurt locker like that. His dream was shattered and I don’t think he’ll have it much easier for his 3rd property acquisition”
Samuel declined to comment on the North Freo property he was eying off. Saying, having to draw from his trust fund again to purchase a property outside the triangle was “beyond words”.
We’re all behind you Samuel.
Documenting the Human Zoo is thirsty work, so if you enjoyed what you read how about buying Belle a house deposit, ay?