THE DREAM of debt-free home ownership is slipping further from reach for the typical Australian family, as rising mortgages outpace growth in household earnings.
Census figures were released today giving a snapshot of 2006 compared to 1996.
In 2006, 33% of homes were fully owned. Ten years prior, 41% of homes were fully owned.
» Rising debt keeps Australian dream out of reach – The Australian, 27th June 2007.
you dont have to wory about house prices sky-rocketing i was reading the finance paper in greece and read that britain abolished slavery 200 years ago making a big mistake .now the western iconomys allowing migrants in there country and working as cheep labour to compet against china and india ,in doing so i feel wages of the local workers will have to drop at levels unsaistainable to service a home loan . i personaly feel the average price of a home hasent iven begun to drop .thats what you get when you sign up to the international monetary fund i’m sure the goverment is well aware of this consiquences.
ATLANTA
This is exactly what I expected to find out after reading the title Rising debt keeps Australian dream out of reach. Thanks for informative article