Monday, October 24, 2011

Someone's Been Reading E@L's Blog

In a courageous attempt to support E@L's thesis from the other day, The Age newspaper from Melbourne, Australia, has chipped in with this disheartening article:

Households struggling to pay bills
Adele Horin
October 24, 2011

"More than 10 per cent of Australian households - or 850,000 - spend so much on rent or mortgage payments they have little left over to cover other bills, a study shows."



Mind you:

"Mr Millard called for the removal of tax concessions that encouraged property speculation, for increased supply of public and social housing, and for rental assistance to be indexed to the cost of living."

E@L made an attempt to purchase two apartments in Queensland with the goal of "flipping" one of them. These were short-term serviced apartments, though, not family housing. Anyway thanks to the flat market in Queensland, they failed to materialise and E@L received his deposits back (plus interest).


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