Posted 27 September 2019
The CEO of CorelLogic International, Lisa Claes, says while it’s getting tougher to buy a house four out of five Australians still believe it’s important to own your own home.
OF course they do … to have the security of a Nest …
Now to save for a 20% deposit it takes an average of 11 years in Sydney with Stamp Duty averaging 3% of the purchase price
The downturn has had little impact upon affordability with low incomes … the dwelling price to household income … that is six and a half times the gross not net household income!
Housing is now 50% higher than it was 20 years ago … impacting not only Gen X and Y locked out but their families having to house them!
HOW did this come about? Was it the massive competition of those from our big neighbour to the north?
-the hideous Foreign Investment Board Review (FIRB) that allowed deve-lopers to sell 100% ‘new homes’ to foreign buyers
-no Anti-Money Laundering Rules to prevent black money awash in our Real Estate (RE gatekeepers exempt October 2018 from second tranche)
WHAT AUSTRALIA needs is a Party that will enable HOUSING AFFORDABILITY for this Whole Cohort locked out … by enforcing the Second Tranche of the AML Legislation, eliminating the overseas sell out and dissolving the FIRB!
AUSTRALIA had that opportunity in 2019!
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THE BUSINESS: WITH CEO OF CORELOGIC INTERNATIONAL: 4 OUT OF 5 AUSTRALIANS Believe it is Important to own your own Home!
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