The Australian institute of family studies has indicated that lower income workers with little skill have little chance of buying a home after they reach the age of 35 years.
Home ownership rates have fallen to their lowest level since 1954.
The report showed that the proportion of low income people under 30 buying a home halving since 1971.
On July 1st next year a $7,000.00 grant from the government will be given to first home buyers to counteract the impact of the GST.
This will not be means tested and will really benefit people buying property in outer areas in the price range up to $180,000.
The government are really making it difficult for first home buyers and that Australian dream of owning your own home is getting further and further away each year.
One popular argument is to put ones money into the share market, but not only is there risk involved, but also how many people have the discipline to save money 52 weeks of the year.
What they don't point out is how a fixed rate mortgage is a systematic savings plan with negligible risk.