Without long-term solutions to the imbalance between incomes and house prices, Gen Ys face a lifetime of renting without the financial and emotional security of home ownership.
Wall to wall coverage. Mortgage advertising has a new pitchman.
Angélica Portales/Flickr
Housing affordability, high house prices and rents are attracting plenty of media attention right now. The latest figures on house prices, mortgages, number of first time buyers and so on are dissected…
The dream of buying a home is increasingly unattainable for younger Australians.
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Home ownership is becoming a fading hope for those without an existing foothold in the market. For increasing numbers of younger Australians, the dream will give way to a future as tenants.
Housing Association tenants will get the right to buy.
Jonathan Brady/PA
Christian Hilber, London School of Economics and Political Science
George Osborne’s bid to boost home ownership in Britain might look like an effort to give young people a leg-up onto the housing ladder, but the evidence suggests they will be sorely disappointed.
New homes like this one in Sydney’s south-west would be within reach for more first-time buyers in New South Wales if the state government supported shared home buying schemes.
Dean Lewins
New South Wales is Australia’s most populous state, with the most expensive capital city – yet it’s done less than many other states to develop cost-effective options for aspiring home owners.
Lending standards are so tight that even former Fed Chairman Ben Bernanke, center, who until recently was one of the most powerful people in the world, can’t refinance his mortgage.
Reuters
It’s clear mortgage standards have gotten too tight when even a former Federal Reserve chairman who makes as much as US$250,000 per speech cannot refinance his home. Ben Bernanke complained about his inability…
Everyone has a dream home, but for many it remains a dream.
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It’s ironic that fantasy home shows are the latest genre in reality TV, at a time when affordable housing is the real fantasy for many. The format is strangely addictive – photogenic twenty somethings…
The proportion of renters is now roughly equal to the numbers of outright home owners.
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For all our talk about housing affordability, few people want house prices to drop. That’s because most Australians are home owners, and much of our wealth is stored in housing. But recent figures released…
Professor; School of Economics, Finance and Property, and Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University