More data out today about the housing crisis, this time in Queensland.
Housing repossessions in Queensland for the last two years is up 88%, while the number of mortgage relief loans, an interest-free loan of up to $12,000, is up 166% in the past year.
Labor treasury spokesman Wayne Swan said “The dream of home ownership is slowly disappearing for many Australians, especially the young. Housing affordability has reached record lows right across the country, particularly in capital cities.”
» Home ownership dream fading for young – The Australian, 9th June 2007.
» Housing crisis grips state – The Courier Mail, 9th June 2007.
The cost of housing in this country is an absolute disgrace