Have property investors destroyed the great Australian dream?

20 - 30 years ago the average Australian home cost about 4 times the average income. According to published statistics that figure is now about 7 times. Are large numbers small cashed - up property investors owning 1 - 8 investment rental properties driving up house prices beyond the reach of many first - home buyers? Should the market be regulated, to make owing your own home a more achievable dream once again?

Responses:

How are you going to regulate the market? People will pay what they will pay. If you cap asking prices on houses, everyone will go to auctions. I am one of those small property investors, I currently have someone renting a house because it will not make enough profit if I sell it. If it were not for me my tenant would have nowhere to live. Remember, I paid 100 times what my father did for his house, but it was my dream and one of my life goals and instead of going 'It's too hard', we bit the bullet, and are doing the hard yards to make it happen
No. No. The market is already regulated and it's controlled by the government for the benefit of those speculators and the banks not the public. You are a slave same as the good old day's of the British Empire, accept it, quite whining and get back to work
How do you propose it be regulated? Only permitted to own one home? That would never work. What you are forgetting is that it is quite possible to purchase a home that is 4 times your salary but you have to COMMUTE to work. My parents commuted 1 hour a day to work in the 60s70s in order to own their own home. They sold up and moved several times in order to live closer to the city. Young people now want to buy their first home in the city and not work their way up. It is a process you have to work for and you have to make sacrifices to get there. That is one of the Gen Y issues that is anoying. They want to get to the end point in home ownership NOW

Tags: young, cost, published, tenant, australian

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