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Australia: Home ownership less pie in the sky for Gen Ys

Posted on 27 February 2013

If you don’t want to struggle to pay off a mortgage later in life, the best time to enter the property market is in your early to mid-20s. Securing a house or apartment at a young age not only jump-starts your wealth portfolio, it’s also a good savings strategy thanks to a government scheme that offers extra cash to those saving for a first home.
First home saver accounts (FHSAs) were launched in 2008. Initially, the federal government forecast that 700,000 accounts would be opened, but the Australian Prudential Regulation Authority says just 38,500 FHSAs were operating last September………………………………………..Full Article: Source


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