Housing Affordability

By: Gooseman (Registered ) on 23-09-2007 08:44

The word "illiteracy" seems a rather harsh descriptor for the people who possibly need counselling on financial and budgetting matters. Likewise the suggestion that they sit around on milk crates, until times improve, is a bit rough.  
The sad reality is that, in this highly consumer driven and buoyant economy, everyone wants what is available and they want it now. First time buyer homes are becoming a thing of the past, the kids of today want the 4 bed, 2 bath, gamesroom, pool and 2 car home with furnishings to match. Perhaps what is needed is more counselling of mortgagors and probably a stronger code of ethics or self regulation for lenders, say, minimum unencunbered deposits. 
What would help considerably would be a lowering of the purchase price. This could be achieved by the state governments fast tracking more land for development and a reduction of the fairly hefty charges they attach to land conveyancing.The latter was supposed to follow on from the introduction of GST.

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