Renters Facing Life Without Owning A Home

The cost of homeownership is forcing some Aussies to say goodbye to the dream of owning their own home, but with rents rising year on year, how will the country adjust to the new renting reality?

Housing and rental policy expert Michael Fotheringham joins us.

#HousingCrisis #RentalCrisis #GreatAustralianDream

[sl]

Shame on Albanese. Grew up in public housing and determined to make every young Australian live in a tent.

[StainingObs]

"You will own nothing. And you will be happy." - WEF

[arclux]

Stop importing more population, decrease demand. Remove barriers to development, increase supply. What is not to get?

[vegan.rex_]

This is what happens when housing is treated as a means of insatiable profit rather than a human right

[ProjectLabz]

Ive already given up hope of owning my own home. 33 with 2 kids and a wife. Im not going to slave away 50 - 60 hrs a week just to buy a tiny house. Id rather be physically and emotionally present for my kids and just move whenever we are told to.

[mtpender]

Remove negative gearing, remove capital gains tax concessions, implement net-zero immigration, make foreign investment into residential property illegal, introduce a vacancy tax, punish developers who conduct "land-banking" and invest in TAFE to train the people we need locally.

[TheGravityAxe]

5 years ago we were looking for a house.
Had half of the deposit, weren't looking for anything fancy, 2-3bedroom townhouse or small house, but right before we made the call to the bank... the market skyrocketed.
Our dream of paying 400k for a small home disappeared overnight.

We had one out, our Father in law offered his house to us when he died and his wife agreed because she was getting her mothers house.
She didnt need the big family home anymore... but when time came for her to relocate, she sold the house. Moved into a fully paid off town house with close to a million bucks.

Im not angry at her, but it was very devastating to my wife and her brother.

Anyways, Australian real estate is designed for the super rich.

[garyfoxall]

Time to end negative gearing. Stop real estate being an investment proposition.

[jena.alexia]

Unless you have a windfall or are on a really good wage, it is impossible to save a deposit for a house.

[meplife]

I'm in my 50's now and still haven't owned my own home. I have no chance with $70k income. The last time I attempted to get a loan they approved max of $300k... as I went looking everything was out of my price range. So I reckon I'll be renting for life. They're not making it easy to rent either... things need to change. I've had that many rental increases and the agent doesn't do fixes that are needed either.

[crisgong]

Nowadays, people all over the world know that as long as they buy a house and rent it out in Australia, they can make a steady profit without losing anything. Moreover, due to the absence of Australian government regulation, this investment has almost no risk, and the only sacrifice is the future of the Australian youth generation

[Hypocrisywatch]

Albo is ok..thats all that matters..to him

[AnthonyZee-gi]

There is an easier option
Save some money, then leave Australia
Why stay in an unaffordable country ?
We have only 1 life
Don’t waste it

[dynomiterecords]

The immigration ponsi scheme being run by governments of both persuasions and the persistence with negative gearing and capital gains tax treatments has resulted in this deplorable and ridiculous situation.

[tubesurfer]

They are in it for the money. To get someone else to pay it off for them. They aren't there to help people. It's purely investment driven. It's counter productive to the problem.

[cmp]

Back in the 90s I never thought I'd buy a house. That changed. Whatever situation you are in today, doesn't mean you'll be there forever.
In the meantime, the government needs to slow down immigration which will take some pressure off the housing situation.

[Deano]

Every renter has to simply stop paying rent, all at once. The government will then listen. Millions of renters are not going to be evicted all at once.

[hazelem]

Assuming you are fortunate enough to save enough for a deposit, many Australians are only managing to buy houses in their forties. Assuming you are really blessed and manage to continue to pay your mortgage and keep your house and not starve, you will not be able to retire at 70. Because these days it is nigh impossible to pay extra into your mortgage.

when rent costs more than a mortgage, good job australia.

[oldscribe]

We are now (in our 80's) in a reflection period. We realised that we could have bought two houses with the money we put in a landlord's pocket. Now, we are in that period of our lives where we are subject to elder abuse in many, subtle and not-so-subtle ways. It looks like we are going to be kicked out of our rental because I am not able to keep up garden maintenance and all the little jobs around the place that I save the landlord paying for. His form of elder abuse is relentless and along the lines, "It looks like this place is beyond you now. You clearly can't manage it." There are hundreds and hundreds of us in Australia and the government is all mouth and no do. It proselytises its 'Assistance Packages"- but try and get one in reality. We have given up.