{"id":27779,"date":"2020-09-23T08:20:55","date_gmt":"2020-09-22T20:20:55","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=27779"},"modified":"2020-09-23T08:20:55","modified_gmt":"2020-09-22T20:20:55","slug":"were-in-a-2-tiered-property-market-heres-what-it-means-for-you","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/were-in-a-2-tiered-property-market-heres-what-it-means-for-you\/","title":{"rendered":"We\u2019re in a 2-tiered property market | Here\u2019s what it means for you"},"content":{"rendered":"

PHOTO: Is it as hard to get into property as you think? Image: Getty<\/strong><\/p>\n

There are always stories about housing affordability in the media.<\/p>\n

And this seems to be dividing us into a nation of those who are property owners and those who believe property will always be unaffordable.<\/p>\n

During booming market conditions it was all about being priced out of the market by greedy property investors and foreign buyers.<\/p>\n

Then when the market slowed, the conversation turned to negative gearing and how it was keeping the rich richer, and stopping others from stepping onto the property ladder.<\/p>\n

Now that our housing markets have slowed during Covid-19, we still hear the trials and tribulations of first homebuyers who are struggling to save a deposit.<\/p>\n

So what\u2019s the real story about property in Australia?<\/strong><\/h2>\n

I keep hearing cries that the Baby Boomers had it easy when they were looking for a home, but that\u2019s not really the case.<\/p>\n

Bank lending criteria were just as strict back then and interest rates were usually in double digits, even reaching 17 per cent in 1989.<\/p>\n

And Baby Boomers could rarely rely on the bank of Mum and Dad as their parents lived a frugal life, with many of them having learned their money habits during the depression.<\/p>\n

This meant Baby Boomers had to learn the art of delayed gratification realising that \u2018once it\u2019s gone there\u2019s no more.\u2019<\/p>\n

But society has changed, and the younger generations are living in a much faster world and have different expectations.<\/p>\n

READ MORE VIA YAHOO<\/a><\/p>\n

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