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Home ownership - dark side of the boom : Comments
By Kim Carr, published 1/11/2006It’s official - home ownership is less affordable than it has ever been before.
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Look at reports coming in from charity groups who say that more and more people are defaulting on rents solely because the costs of living is outstripping 'real wages'. South East Queensland is witnessing young families living in tents - wealthy bums. Why? Because of a shortage of housing and a growing rate of people unable to afford rents.
They also say that the first home buyer is increasingly being pushed out of the market. These statistics are not coming from Marxist(etc) organisations but church charities and such.
There are certain people who buy up home after home after home. I once rented a house of a fella who rented out 20 homes. As more and more people are pushed out of the market, society becomes feudalist.