Overseas money inflating property market

How is a working family to compete with this?

19 year old student buying 3.3 Mio home with “generational wealth”

“He was a student who looked like he was 19 years of age, he was very much incognito with his sunglasses on and talking with his father in Mandarin then calling out the numbers”

https://www.realestate.com.au/news/young-buyer-stuns-auction-crowd-with-34m-bid-for-brisbane-home/