B.T.N Housing Affordability
Houses are one of the most expensive things that you will ever buy in your life. Unfortunately houses are getting even more expensive that’s why a lot of Australians are getting worried because Melbourne and Sydney are one of the most un-affordable places to live in. The average house today is 656,800 dollars. Most people can’t afford that much so what they do is they borrow money from their bank but that comes with a consequence you have to pay them back after plus Intrest which is extra money they charged you on top of that money you borrowed. So technically you lost money.
On average humans earn 10 times more money then they did 40 years ago but housing is 30 times more expensive. That means that compared to when your grandparents got a house, houses are more expensive to buy and harder to pay off. Australia is not the only country struggling with expensive houses but people there are finding creative ways to live. Like in a canal boats and an old shipping container. So Australia is still worse then America, Canada, Britain and most of Europe when it comes to housing affordability.
The government have realized this and have been trying to sort things out. They trying to make it easier for first home buyers to save money, making it harder for people over seas to get a house so that Australians can get homes easier and trying to get older people so sell their homes and get smaller homes .
I understand that getting an affordable house is very hard to do.
I wonder if renting a house would be a good solution ?
I wonder if over seas people will get angry ?
I personally think that this new budget thing that the government planned is stupid because most people in Australia come from other countries and they should be able to buy a house. Also if older people want to live in a bigger house they shouldn’t be forced to live in a smaller house.