Our federal government has bought up the subject AGAIN about seniors downsizing their homes to make room for the younger generation …….Why would we at want to sell our home and put money into superannuation at our ages 75 and 76 then be penalised after the grace period of ( 2 years) by having our pension stopped or heavily reduced ….taxed on the money ….as well as management fees charged by the Super as it’s called by most Aussies …. The federal government tried this tactic about 2017 …and it DIDN'T go down well with senior home owners… I can see the day coming where they force us to move with the never ending housing crisis in our country I’ve got news for young ones regarding being able to afford a home …….a roof over the head … stay home … don’t go on overseas trips …..eat at home … don’t start at the top of the line home / contents ……..don’t book everything up on cards ………. save your money buy a home ..just like we did …..Don’t….. push us out of our homes. We worked …stayed home saved to buy a home https://www.abc.net.au/news/2022-05...s-for-older-australians-to-downsize/101067920
Is the housing shortage that bad in Australia? I see your point pensions being penalized. That's like saying if I sell my house, my Social Security will be cut. Is it the same?
Same Shirley if we had $300.000 our pension would be deemed / calculated at well above interest rate and we’d get about $350 a fortnight pension between us cause we’d be expected to live on the money ….payments from the super that’s set up like a monthly pension. Yes housing is hard to get …interest rates are super low 3% for buying a home / loan ..we paid 18% interest when we bought our home in 1988
Not the government here where we live, it's the young folks (Millennials) that would love to see all of the Seniors here sell their homes, or move out of apartments, so they could have the city. This is the only place my wife and I have lived where Millennials don't like Seniors living here. "It's our city now, not yours anymore". I actually had a Millennial tell me that.
@Kate Ellery - there was something about that on the news here this morning. I di not hear it, but hubby mentioned They were trying to force out of homes. We live in apartment and still being forced out very large rent increases. Now the going thing here is apartments who once accepted vouchers for rent, are no longer accepting ,this includes disabled people. Not sure hw they can get away with that but they re trying. And they world wonders why people go Postal. Sigh
We have an federal election this weekend and we opted for a postal vote and I can tell you our current Prime minister DID NOT get my vote ..why would any seniors vote for him ..he doesn’t care if we end up paying more taxes and charges by selling our home. With the fact we are living longer than our parents or grandparents did prob has a little to do with the housing shortage along with immigration to our country at all time high with people coming from war torn countries My hubby and I are in second marriages ..when we met in 1986 neither of us had much he lived in government housing …I was living on a farm working there to cover my rent so to speak …. We both worked saved enough to cover a small deposit on our SMALL brand new home which cost $66.000 including fencing ( 1989) ( standard block of land just big enough for the house and little backyard ) We paid that off in 10 years …sold it after 16 years for $200.000 + so we managed to get our new home built with the funds from our old home, didn’t have to take out a mortgage for our home where we still live now …. ( we opted to NOT have some extras that came with the house at a EXTRA cost ) so the home was in our budget i still worked for another 5 years til I was 65. One of those extras was overhead cupboards in the kitchen …which I had added a couple of years ago. We managed to pay for our first home together …….cause we didn’t travel apart from a long weekend till our home was paid for …it was main focus to have a PAID for home. @Hedi Mitchell