The greatest expression of Australias cultural crunch is in the - TopicsExpress

The greatest expression of Australias cultural crunch is in the nations real religion - property. First-home buyers are increasingly unable to gain a foothold in home ownership. As the Herald reported on Saturday: While the housing market has reached boom levels in a low interest-rate environment, first-home buyers are being squeezed out of the property market, making up a record low 6.8per cent of new housing loan commitments in NSW in September, a sharp fall from the peak of 34 per cent in May 2009.

All-cash offers crushing first-time homebuyers By Diana Olick

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