First Home Owners

Australia's home ownership obsession: A brief history of how it came to be

Over time, the Great Australian Dream has meant different things to different people.
But for the better part of a century, any reference to Australian aspirations — great or otherwise — meant buying a house.
A recent ANU poll found more than three quarters of Australians viewed home ownership as part of "the Australian way of life".
Yet, for housing experts, this fixation on owning a home of your own is curiously specific at best, and harmful at worst.
"Do you need to own?" urban designer Peter John Cantrill asks, with the emphasis on "need".
For Mr Cantrill, the operative question is: can you be secure where you live?
Countries such as Germany and Sweden have far lower rates of home ownership, he argues, offset by controlled rents or tenancy insurance.
Now, with many Australians facing mortgage stress or rental stress, the great Australian dream has become a nightmare. But is this a crisis of our own making?


(Source: Australian Broadcasting Corporation )