from the master of disguises...

disguises

"I think [my parents] were in their 40s before they could afford to buy their first home. "It's not something you're meant to get — the two-car garage [house] when you're 22. "I think... that this generation and the one before think that's the way it has to be — well I'm afraid it's not that way." Senator Hinch said a lifetime of renting was common in many big cities around the world, where often people were unable to afford to buy property. "That's why in New York, when you watch programs like Seinfeld, there was such a rush to get hold of rent-controlled apartments," he said. "Because that's the way people lived their lives. They didn't expect to own a house."

http://www.abc.net.au/news/2017-04-11/derryn-hinch-tells-millennials-hom...

By Gus Leonisky at 11 Apr 2017 - 6:06pm
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a hand in the cookie jar before lunchtime...

Federal Labor will oppose young Australians getting access to their superannuation for a house deposit "with every ounce of energy," after it was revealed the Treasurer favoured the controversial idea.

Key points:

The proposal could see young people divert superannuation payments into a special account
They would have to match the amount from super dollar-for-dollar from after-tax income
There would be an age limit for people accessing the scheme, but this has not been settled

The ABC understands Scott Morrison supports a proposal that could see young Australians divert compulsory super payments into a special account.

The proposal has been supported by some crossbench senators, but shadow treasurer Chris Bowen said it could undermine superannuation and further increase property prices.

"It takes a very special plan to actually drive up housing prices by increasing demand as well as undermining Australia's retirement system," Mr Bowen said.

http://www.abc.net.au/news/2017-04-11/labor-opposes-young-australian-acc...

By Gus Leonisky at 11 Apr 2017 - 6:08pm
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please pay generously...

Young Australians would be better off renting than trying to purchase a property given record prices in capital cities, according to one of Australia's most respected economists.

Deloitte Access Economics' Chris Richardson used his speech at the National Press Club today to offer some advice to those seemingly locked-out of the property market.

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