A stark report by the Paris-based OECD says that older home owners are enjoying more equity while younger ones are saddled with more debt.
The average Aussie home owner is getting older and wealthier, the OECD’s latest report into housing and taxation shows.
“High-income households hold a disproportionately large share of housing debt but lower-income households with mortgages generally face higher debt burdens,” the report says. The federal government plans a $10 billion Housing Australia Future Fund that aims to build 30,000 social and affordable housing properties withing five years, implement Help to Buy – a shared equity program to make it cheaper and easier for Australians to own their own home – and establish a national housing supply and affordability council.
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