Opinion Archive Crate expectations? Join the debate... | Crate expectations? Join the debate... |
Spending It is a combination of both High prices and high expectations. » Report this comment to administrator he's partly right I think Peter Lindsay is certainly right when he says people these days have higher expectations. We obviously love our space: houses are getting larger and fewer people are living in them. » Report this comment to administrator Ownership concentration The reality is for most people trying to enter the housing market, the money you might save using milk-crates instead of furniture is not going help much saving up a deposit to make even a $300000 house affordable on an average income. I'm afraid the only logical explanation for house-prices consistently outstripping the affordability of many buyers is that housing ownership is increasingly concentrated in the hands of the those who can afford to buy multiple properties. Hence realistically, if the ideal is for the average young Australian family to own their own home, we need policies that make buying and owning investment properties much less attractive and profitable. But trying selling that to the electorate. » Report this comment to administrator Interest(ing)? I married in the early sixties and found it hard to save for a house and even harder to get a loan. Interest rates at that time were around 4.5%. You were expected to have a very large deposit and a very good employment record. Women's wages were not taken into consideration it was all based on the "wage earner's" employment, read that as 'man of the house'. During the early 90's when my children wanted to buy a house they had many more options even though interest rates were at about 17% but both wages were considred. 17% on $160,000 for an inner city three bedroom terrace was still affordable. Try to buy that same property now at close to a $million at 8% interest. Take it that wages/salaries may have doubled in that time the affordability is still for a house at about half the cost as everything else has gone up and now includes GST. The pressure is also on to have more and more. At least when we were young it was not a crime to struggle, to wait, to save, to do without. The media pressure, the availability of credit, the have it all now mentality, for tomorrow we may be doomed, pervades young people's psyche. I feel desperately sorry for them. We may have had it hard but at least we could see things would get better. I'm not so sure that it it is as clear today. » Report this comment to administrator Affordability Housing affordability is dependent on two factors .... size and demand for housing. » Report this comment to administrator Display 5 of 5 comments Add your comment
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