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Housing affordability is everyone's problem

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Australian Broker | 02 Jul 2013, 05:00 AM Agree 0
The HIA says it's not surprised at the news that housing affordability is the biggest problem facing the sector
  • Dennis Mayhew | 04 Jul 2013, 08:35 AM Agree 0
    Affordability, to my mind comes down to competition. Whatever you station in society, you have to compete with your peers if you want to buy an above median house in your bracket. This hasn't changed: nominal prices, interest rates, bank lending policies, govt assistance, tax rates, nominal income have all changed but when it comes down to it, you need to compete with your cohorts and what they can cobble together to beat you at the auction. This was the same in the 70s and the same now. Dual incomes are just more common now... (refer to http://australianpropertyforum.com/topic/9908330 ) - people choose to put their additional money into the game. What can you do? Things change. You can't put the genie back in the bottle.
  • Papery | 04 Jul 2013, 09:39 PM Agree 0
    For the most part those that enter into ownership of an inv ppty do so to make money. For the most part to maximize rental returns, not for any social conscious of supplying affordable accommodation to any one. Spuikers push this point. We are told to build our own wealth & the sure fire way is thru ppty (because it only ever goes up in value). We need to demonstrate our wealth thru material possessions whether we can afford them or not & we certainly don't want to live in a house that looks like a rental.
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