australia's basic values are increasingly under threat....

australia's basic values are increasingly under threat. Australia is now separated by land owners and non-owners.


Will the govt intervene or do first home buyers have to wait (potentially putting lives/families on hold) for the market to revert to mean?


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http://www.brokernews.com.au/news/breaking-news/mums-and-dads-funding-first-time-deposits/47140

Mums and dads funding first-time deposits

By Kevin Eddy | 19 Jul 2010
Getting family and friends to stump up the cash is becoming the most common way of obtaining a deposit for a first property, according to a new survey.

A survey of Loan Market brokers has revealed more than half of the respondents - 56% - believe family pledges and gifts has become the fastest-growing method of acquiring a deposit. The company suspects that borrowers are resorting to such methods as a result of tighter lending regimes.

"Foremost among the factors restricting potential property purchasers is the difficulty in saving a deposit for a home loan," said LoanMarket chief operating officer Dean Rushton. "Younger buyers, in particular, are having to borrow as much as 20% of the property price to obtain a loan: that can mean having to find a considerable sum of money to get into the market."

Rushton said Loan Market had been advocating for lenders to take rental payments into consideration as a factor in assessing genuine savings for a home loan deposit.

That would enable many people to pursue the dream of home ownership, he added.

The survey also found that 2% of brokers reckon that genuine savings is the most popular means of obtaining a depost, while the government's First Home Saver Account was in for a damning indictment, with just 2% of respondents listing it as the first choice.