I live in Dublin, Irealnd... where house prices have risen at 20% per year for the last ten years or so.
I'm 28, living at home with my parents.... however, over here there is no shame in that. The average house price (small two bedroom house) here in Dublin is about 400,000 Euro ($500,000).
I'm living in a modest four bedroom, semi-detatched house (measley 900 square foot footprint) with a market value of 800 to 850,000 Euro (just over a million dollars). In order to qualify for a 350k Euro thirty year (yes, 30 year) mortgage I'd need 40k Euro ($50k) cash deposit and an income of 80k Euro ($100k) annually.
Rents can be as high as 2k Euro a month for a three bedroom house outside the city, (rush hour journey time to the city centre being 80 mins by car), or 1,200 Euro a month for a tiny (500 square foot) two bedroom apartment in the suburbs.
You guys don't know you're born.
The Luke