Housing Ownership Down the Tube

First home buyers are getting to be a rare bunch in Australia. With out of control property prices and the reserve bank’s “cat and mouse” interest rates game things are getting tight.  Read more here…

THE property sector was unanimous yesterday: first-home buyers would bear the brunt of the interest rate hike, pushing the dream of home ownership further from their grasp. In a rare chance for the sector to speak with one voice, industry associations and developers slammed the rate rise as threatening not only home construction, but the Australian economy.

Source: Dream of ownership becomes nightmare | Business | The Australian

Published by Mike Thomas

Mike Thomas P.Eng. ENV SP, is the author of UrbanWorkbench.com and Director of Engineering at the City of Revelstoke in the Interior of British Columbia, Canada.