It is a known fact that young professional South Africans are not fond of investing in property or buying property especially residential property and this is worrying, especially considering what they choose to invest in or buy. Most are blaming the past or their parents for that but that is a tired old excuse. Not to mention that a lot of these young professionals are driving expensive sports cars while renting backrooms in people’s houses and that does not make any sense at all.
So the main question to ask is: what is making young people in these country value flashy cars and all the other useless materials things at the expense of houses and all the other residential properties? One known factor is peer pressure. In the township if you do not own a sporty German machine you are not regarded as cool enough. Property investment does not ring any bells in most of the young people’s minds. The fact is we can’t value the same things in life but having a nice roof over your head that you can call your own is cooler than renting a property ,rather than helping someone else pay off their mortgage by renting their property or driving an M3 while renting a cottage in someone else’s house.
So the question to ask is: can this bad mentality be changed and how? The argument is that most of this young people are caught in between; it’s either a car or a house and for most it is impossible to afford both. So most end up going for mobility freedom because the state of public transport in this country is horrible. So before blaming and judging them, just imagine you in the same situation because at the end of the day there is nothing sweeter than having that mobility freedom. For someone who has enough money and less responsibilities it is easy to invest in property or buy a property and buy a nice car at the same time but for someone who does not have enough and has to choose between the two, getting a car seems like an ideal choice and who can blame them.
The solution to this is to encourage young people from an early age to be smart with their money and make the right beneficial choices instead of buying material things that depreciate with time. And also having a financial subject in high school that deals with all the aspects on money management issues is another way of solving this problem.
Article by Mashilo
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