"You tell that to the families whose homes are now being repossessed by the banks. "
Australians are a spoilt lot..the standard of our lifestyle including homes comes far more easily than in most other countries...AND These days first home buyers expectations are extremely high and they purchase more than they should.... "Well its going to appreciate in value" they think.
The "Lucky Country" is turning into the "Greedy Country" Children are spoilt and grow into people who just expect everything to land in their laps. Like child minding ??
Values are dropping everywhere.. We do not appreciate or respect what we have anymore. and there is so much wasteage in our affluent society..
MUST BE TIME FOR A DOWNTURN... Just to make us value the things that we have. Invite an overseas visitor into your home and they will tell you how wonderful this country is.
Take alook at internet sites where people exchange homes for holidays....Australia has the best by far.
The government has many initiatives that direct people to act in a certain way..ie buy a home with the first home buyers grant BUT they are remiss not the educate those people about this step or allow for market changes.
Increasing the interest rates is one way of telling young people to beware the financial markets are changing... be careful before using the allowance we offer. Thats the message they should give right now.. but they dont... Young people lose their home...
Fortunately there have not been enourmous layoffs but the finacial credit crisis has yet to be felt here. Being on HC is a good way to stay informed and become educated.
