Home ownership has become a devouring monster

Like a lot of people who care about the state of the world we’re leaving to our children and grandchildren , I was pleased to see the period of spiralling house prices come to an end a few years back and prices start falling.

Until recent years, first-home buyers used to be able to load themselves up to the gunnels in debt and monthly payment obligation, secure in the knowledge that, after a few years of high growth in nominal wages, those repayments would be reduced to a much more manageable share of their income. Get it? We’re suffering the wider economic disadvantages of huge household debt without the commensurate advantage of a higher rate of home ownership. The rate of home ownership is actually falling slowly as the oldies with high rates of home ownership are dying and being replaced by newly formed, young households, very few of which can afford a mortgage.

Wrong the answer is to reduce immigration & foreign ownership . The rental market is already taking its toll on the amount people can save , due to demand & this would make things worse

There's another way. Make home prices based on their actual value, NOT whatever an auction broker can coerce people to pay.

Labor had the right policy. Get rid of negative gearing and other incentives

1. Remove negative gearing 2.Look at models such as Nightingale where homes are ballotted to owner occupiers and developers and real estate agents don’t play a role

Absolutely correct. Home ownership should be treated as one of the fundamental pillars of quality Australian life (food, water, shelter) and not as a tradeable asset class for greedy investors that distorts what would otherwise be a more affordable market.

Decrease demand through decreased immigration

Too late, election's over. The poor have spoken.

In other words, gaslight people to believe that they shouldn't seek self-determination. Slavery is freedom. Got it.

Pretty sure we had a election over it

Very Good comment, remove domestic housing market from speculative investors. Insane policy of allowing foreign investors and property trust companies to invest in domestic residential housing market. Give policy makers, act now

I actually cannot fathom the stupidity of ppl. Overseas investors are the reason why construction had been booming and that industry has had a flow-on effect through the economy. No o/s investors = no sales of apartments = no construction work = no money flow. Rather it this way.

*a home is not a form of investment.. *houses are.

Under 30, earn less than average national average wage, was able to afford my own 4 bedroom house. Called not wasting money and actually saving.

A worsening crisis.

Reduce the capital gains tax so people who bought into investment properties decades ago can sell.

The prices of homes, are too damn high. Its a national crime.

Well duh! Every single obstacle to home ownership is the result of government policy. Taxation, immigration etc. Who didn't see this coming? Nobody wants to get off the gravy train.

We need to extend the coronavirus ban indefinitely. that should fix 'er right up.

No, an easier answer is to stop feeding the sellers market with immigration and stop overseas investors buying up Australian property.

Ahhh socialist policy. Here's a thought. Just work hard and buy something you can afford. Guess what. That might be 40km from the city but that is reality. Deal with it.

Stay clear of ‘leaseholds’ and shared ownership — lots of complaints, missold contracts, failed promised on product in the UK. A person’s home is their castle, built environment must build homes that are affordable, habitable and ensure that homes are built to high standard.

Banks will want equity for a morgage when borrowing......there not the Salvos. System is good why break it. And don't worry, houses do have their lean years like shares and all other investments.

Well of course.

The bubble has to burst some time

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