Great Australian dream or Nightmare?
03.07.2010
As a parent of three growing boys, I am forever asking myself the question, how will they ever afford to purchase a house? It is clearly obvious that the market is buoyant. Property prices across the whole of Australia have been on the increase for a number of years. Notwithstanding interest rates being as good as they have been, the question still remains, how is a young person with little or no savings going to be in a position to amass funds for their first home.
The Government has realized this dilemma and their decision in granting the First Home Buyers Grant should be applauded.
In light of the degree of property price increases, young people are still having trouble saving for that deposit. More and more, parents are now resigning themselves to the fact that they have to financially assist their children if they are to ever realize the Great Australian Dream of home ownership.
Naturally, I am a big advocate of home ownership, and I strongly encourage people of all ages not to give up on that Great Australian Dream. Real Estate has proven time and time again to be a strong ally in tough economic times.
My advice to anyone trying to buy a home is to simply work hard, save as much as you can and live that dream
Best Regards,
Sid Morgan.
