what if, your parents bought you a house, page-16

Hmmm ... when we bought our first house the cost was x3 times my annual gross salary. (ie $30k/$10k)

A Holden Kingswood was 0.4 times annual salary (ie $4k/$10k)

A house became a HOME when you moved in and began a family.

A HOME was something you lived in because you needed a roof and it was valued accordingly.

HOME ownership was considered important also because it gave you security of accommodation in retirement when you could not be expected to be able to afford RENT. (and some dignity in retirement against the alternative of having to resort to a room in a boarding house)

The current predicament in Oz housing is due to the insanity of speculation and Govt policies (e.g. insane tax breaks) which has creates such an inbalance as to lock a generation of working families out of home ownership.

Help your kids with say a DEPOSIT to enable them into home ownership and break the model of the GREEDY SPECULATORS !! (and to the Banks/Govts addicted to their fix)

But first, you must re-educate your kids that a HOME IS WHERE YOU LIVE WITH THE FAMILY YOU LOVE and not something to be TRADED/SPECULATED/LEVERAGED ad nauseum in the pursuit of false riches.

Just my view ...


Cheers ... tight stops.