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> Only 30% of people have mortgages, why should the remaining 70% care Because the remaining 70% rent, with many wanting to own a property someday. Higher mor
by firecall 4y ago
> Only 30% of people have mortgages, why should the remaining 70% care
Because the remaining 70% rent, with many wanting to own a property someday.
Higher mortgages mean higher rent.
Australia has very little social housing.
Renting for families is an unpleasant experience. You can be forced to move with little warning, and finding a new rental in your area can be very difficult and sole destroying. So many would love to own if they could, if only for the stability it brings.
We have many problems!
- brokenmachine 4y ago>Higher mortgages mean higher rent But lower mortgages also mean higher rent. I've never seen rent go down. Literally everything means higher rent. Go figure.
- firecall 4y agoPerhaps it is because that whilst mortgages were cheaper, due to lower interest rates, housing prices were actually rising rapidly.
- chrismorgan 4y agoABS figures from the 2021 census <https://www.abs.gov.au/statistics/people/housing/housing-census/2021 https://www.abs.gov.au/statistics/people/housing/housing-cen...>: 31.0% owned outright, 35.0% owned with a mortgage, 30.6% rented.
- firecall 4y agoThankyou! I just made an assumption :)