Is it affoerdable to own your own home in your country?

@14missy (3185)
Australia
January 26, 2007 10:58pm CST
It used to be the 'great Australian dream' to own your own piece of real estate. These days though, with interest rates going through the roof and the cost of living so high, many people can never afford to get into their own home or apartment. Is it possible for you to own your own property in the country you live?
2 people like this
4 responses
@missyd79 (3438)
• United States
28 Jan 07
for me yes it is and i live in the USA, not because they are so high, though in our area it is hard to find a desent home under 100K, but anyways, I am a single mom and my bf and I both make som decesnt money, but we both messed up when we were younger and our credit is so messed up that it is hard for us to get approved for a mortgage.
1 person likes this
• United States
28 Jan 07
If you would like to fix your credit up, get a credit card, even with high rates. Purchase one thing a month, cheap, and pay it off each month. That will build it up, and also, if you can get a car loan, and pay it off timely, your credit will be restored. Good luck.
2 people like this
@14missy (3185)
• Australia
28 Jan 07
Good advice. Thanks M.
@14missy (3185)
• Australia
29 Jan 07
It will sort itself out eventually. You'll just have to be patient like us.
• United States
27 Jan 07
It seems this is a problem all over the world. I live in the USA, and owning is always better than renting, in my opinion. The monthly comes out about the same. It is the down payment that is hard for so many to come up with. But, owning is a tax deduction here, if morgaged. But, it is getting harder for many people to own with interest rates and the cost of living so high.
1 person likes this
@14missy (3185)
• Australia
28 Jan 07
I agree with you that owning is the way to go. We are hoping to be in that position again in the next year or so, God willing.
• United States
28 Jan 07
If it is God's will, it will be. I hope you are blessed to beable to have one.
1 person likes this
@14missy (3185)
• Australia
28 Jan 07
Thank you. That is our plan anyway.
@babystar1 (4235)
• United States
27 Jan 07
Yes me and my husband own our own home. Most of the people here own there home.If you have to pay rent why pay all that money on rent you can put it all down on your own home.
1 person likes this
@14missy (3185)
• Australia
28 Jan 07
I agree. The difficult part is saving for a downpayment on the h ouse though
@makaira (1159)
• Philippines
27 Jan 07
here in my place, yes it is still possible to have a property but it's very expensive especially if you live in big cities like metro manila... but if you live in the province, the cost of living is a little bit low and the prices of real state is not that high. so if you want to live in a rrural community, you can have a lot of choices.
@14missy (3185)
• Australia
27 Jan 07
Thats good to see. I have double posted this discussion so I apologize for this.