Thursday, Feb 21, 2008
Housing experts warned yesterday that the home affordability crisis threatens to destabilise the economy and drive the country into recession
smh: Skipping meals to pay rent RISING rents are forcing thousands of people to skip meals and admit they are too poor to send their children on school excursions, new figures reveal
Many home owners pay their mortgage by taking second jobs, but Professor Burke said "any economic slowdown means they could lose those jobs, and then you have thousands who are going to be in trouble. I suspect we are approaching that situation."Professor Mike Berry, an economist and urban planning expert from the RMIT University in Melbourne, told the conference that when the property boom slows, house prices in less-favoured areas will fall.
Posted by chris @ 07:03 PM (215 views) Add Comment
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