Hinch on Home Ownership

[Neferti]

Derryn Hinch tells millennials that owning a home is a dream, not a right''

Young Australians have unrealistic expectations about being able to buy a home close to the city, says Justice Party Senate crossbencher Derryn Hinch.

Liberal backbencher Craig Kelly has been pushing a proposal to allow young people's superannuation contributions to be placed in a special account for three years, in order to help them save for a home deposit.

The proposal comes at a time when housing affordability has become a hot topic, with the housing market in Sydney and Melbourne becoming more and more inaccessible to first home buyers.

But Senator Hinch told AM that when it came to home ownership, millennials had an unrealistic outlook.

http://www.abc.net.au/news/2017-04-11/d ... ht/8433498

Funny this, I have been saying this for ages. OWNING A HOME is not a right, it is a DREAM.

AMERICA gave everyone the "right" to "buy" a home and what happened there? When they defaulted all they needed to do was walk out and put the keys in the mailbox. No wonder their Banks went bust in the GFC.

Australia has a different system. Take out a mortgage with a Bank and you OWE them. It is a LEGAL CONTRACT! Default and they will sell the house and get their money back!

Aussies watch too much Yank TV.

[cods]

I agree.. we have a whole generation of GIMMIES..

they demand and the govt jumps..

and guess what else I have found

no ones happy....

enough is never enough!

[Super Nova]

In a land where everyone has a right to the basics in life (roof, water, food, education) people want and want more as a right when it is a privilege that has to be earned.

It is unfortunate that it is sooooo expensive now in the cities but that is how the cookie crumbles.

Get a job and take the risk. If you screw up, you own the liability not the government and not the banks. The US system of just walking away amazes me.

Hinch is right (did I say that)

[Bobby]

Hinch is right - we don't want to further inflate the housing bubble.

[Rorschach]

Hinch is a fwit and people should have the right to access their own money.
I borrowed money from my Super early on, when I needed it to put a roof over my head. Not everyone is married or has 2 incomes you know. Young people have the right to aspire and build a future. I used what was known then as the unpreserved amount of my Super to get a deposit, organise a mortgage and put furniture in my house... it then becomes and asset one you pay off... the difficulty is getting in there first.
I earned more in house value than I was getting in Super interest, it allowed me to use the asset to borrow more which led to buying an investment property, which I rented and btw I never negatively geared, then later to buy 4 hectares land that I could retire to and build on again. All because I was careful with my money and used my Super wisely... I now own my house and have no mortgage.

Only idiots would see this as not a way to go... I don't agree with the idea that has been leaked... but just letting people borrow the unpreserved amout of their Super to set up a home is definitely the way to go.

[Rorschach]

Hinch is right - we don't want to further inflate the housing bubble.

Nice regurgitation of unproven propaganda...

[Bobby]

Hinch is a fwit and people should have the right to access their own money.
I borrowed money from my Super early on, when I needed it to put a roof over my head. Not everyone is married or has 2 incomes you know. Young people have the right to aspire and build a future. I used what was known then as the unpreserved amount of my Super to get a deposit, organise a mortgage and put furniture in my house... it then becomes and asset one you pay off... the difficulty is getting in there first.
I earned more in house value than I was getting in Super interest, it allowed me to use the asset to borrow more which led to buying an investment property, which I rented and btw I never negatively geared, then later to buy 4 hectares land that I could retire to and build on again. All because I was careful with my money and used my Super wisely... I now own my house and have no mortgage.

Only idiots would see this as not a way to go... I don't agree with the idea that has been leaked... but just letting people borrow the unpreserved amout of their Super to set up a home is definitely the way to go.

It's not the unpreserved amount of their Super that we're talking about.
It's their actual super.

Don't call the man I voted for in the senate - number 1 -
a fwit.

Hinch is the boss of the Justice party - & this country needs some justice.

[Rorschach]

LOL its all their Super Bobby.

[Rorschach]

Oh and yes... Hinch is a fwit.

[Bobby]

Oh and yes... Hinch is a fwit.

Wash your mouth out with soap & water.

You need some justice.