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This is an extract from a fairfax web publication (Domain) the full article is available @ domain.com.au

I present this without comment.

 

Generation gap

Runaway home prices rises have exposed a gap between older homeowners and younger would-be buyers struggling to get into the market.

The Reserve Bank said in December that many 50-60 year olds had benefited from a strong economy - which hasn't experienced a recession in nearly two decades - to enjoy secure financial positions.

Older homeowners have borrowed more later in life to fund upgrades and expansion of homes, helping drive up prices.

However, typical first-time home buyers, usually under 35 years old, have seen a ''noticeable decline in home ownership over the past 10-15 years,'' the RBA said.

Hornsby, NSW-based Eve Roberts is 29 and bristles at the suggestion that people in her age set have brought the affordability issue on themselves.

''Despite being on reasonable salaries my partner and I can't afford to buy an apartment, or to have children for that matter,'' she said.

''The baby boomers who relish house prices going up are unfortunately to blame - why? Because for many, owning their house is the only thing they've managed to accomplish in their lives and want to see its value go up astronomically.''

''Generation Y having an entitlement issue? Give me a break.''

Ms Roberts said Baby Boomers are short-sighted for not seeing the generational burden that has been allowed to take hold.

''Unfortunately their foresight is so poor that they don't realise that in 10-20 years time, as they struggle to move from room to room and go to the toilet unaided, their children and grandchildren will be too busy working off their mortgages to come and visit them at the nursing home.''

Home affordability
A comment about where we are possibly heading. read more...
 

Buying Services for Frankston Home Buyers


 
Congratulations!  You have decided to purchase a home, or are thinking about buying one.  You'll be joining the ranks of thousnads of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family - the GREAT AUSSIE DREAM.  When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours.  Over time, your home will increase in value,and then you'll be in a secure position to invest.

In the following reports, you'll find the information you need to make a wise buying decision.  We'll take you through the planning process step-by-step , to help you determine which home is right for you.  You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.

Wheather a first home buyer or seasoned investor this is a must to read.

Please contact me if you have any questions about buying a home or leave a reqest below when you ask for your report.


Below, select desired reports and complete the form provided.



Avoid The Most Common Buyer Errors

Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase.

Buying Your First Home?

Many renters are starting to think about purchasing a home of their own. This article highlights several factors that should be considered when purchasing a home. AND remember to enquire about First Home Buyers Subsidies directly with me, on 0427 453 667

How Not To Pay Too Much For Your Home

This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process.

A Smooth Home Purchase in Six Steps

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible


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