Young people who want to buy property are “selfish”, says Hinch

Posted: 12 April 2017 1:22 pm

Derryn Hinch calls young people selfishSenator Derryn Hinch has called for the younger generation to give up their dreams of homeownership.

The federal government is considering multiple proposals to help first home buyers get into the housing market, with housing set to be a key issue to be tackled in the upcoming budget. However, crossbench senator Derryn Hinch has told ABC Radio that young people have unrealistic expectations about housing affordability, according to The Australian.

“The problem here is that people, and it’s unpopular to say this, but owning your own home is not an Australian right," The Australian quoted Hinch as telling ABC Radio. "It’s a dream and everybody wants to do it. My parents, they were in their 40s before they could afford to buy their first home.”

Hinch also warned that any government policies that seek to make housing more affordable could cause properties and assets currently owned by Australians to be devalued. Hinch expressed concern that these policies are motivated by taking care of buyers struggling to get into the market, who he feels are being selfish.

“The fact that they think they can afford to buy a home anyway. It’s the expectation that, 'Here I am, therefore I should have a house'," Hinch told ABC Radio. "In many European countries and places like New York City, most people, I think I’m right in saying this, or it certainly was some years ago, most people rent. They don’t buy. They can’t afford it."

A proposal under consideration by treasurer Scott Morrison, which is supported by backbenchers Tony Abbott and Craig Kelly, will allow young people to access their super in order to purchase a home. Industry super funds warn of the policy’s impact on retirement savings and Hinch thinks it’s simply a bad idea.

“Superannuation is there for when you retire. If you [use your super for home ownership] it will push more people onto the pension and how the hell are you going to fund it?”

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