Home Ownership

This thread is prompted by the news that three of my children are soon to join the other four who hold mortgages for homes. And I mean detached houses with land. This is very much the Australian dream and about 70% own homes or hold mortgages. All children have partners and it’s almost unthinkable that a singe working person could afford a house, although many could afford an apartment.

So a few questions:

1. Are you a home owner?

2. Is it a house/apartment/other (you know castle, dungeon, super yacht)?

3. Is the home mortgaged?

4. Is a partner a part owner?

5. Pros and cons of home ownership vs renting?

6. What can be done to make home ownership more affordable for the poor.

Obviously if you feel uncomfortable about disclosing information like this, fair enough.

And if mods think this should be in community please move, but my intent is to have a debate about home ownership from the perspective of different nations.
My answers:

1. Yes

2. House

3. No

4. Yes

5. Our home is our biggest asset and I’m glad that we own it, not a landlord.

6. Make mortgage payments tax deductible (I know other nations have this, but not Australia.

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