NO WIN­NERS IN DOWN­SIZ­ING PLAN

Southern Gazette (South Perth) - - OPINION -

IT was men­tioned on the news that there are many el­derly peo­ple liv­ing in large, mainly empty homes who would love to down­size but are afraid to do so.

The rea­son given would be that the money de­rived from the sale of their prop­erty would no longer en­ti­tle them to their full pen­sion.

This would make them worse off fi­nan­cially.

The gen­tle­man in ques­tion pro­posed a scheme which would cor­rect the sit­u­a­tion, thus en­abling the pen­sioner to avoid los­ing a por­tion of the pen­sion and at the same time free­ing hun­dreds and even thou­sands of fam­ily homes to young fam­i­lies who need them.

I am per­son­ally rather un­easy about this type of ap­proach.

From what one hears, young fam­i­lies seem to find it al­most im­pos­si­ble to save an ad­e­quate amount of money for a de­posit on a rea­son­ably sized home.

And even if some do have the ca­pac­ity to do so, it doesn’t take long for some greedy prop­erty in­vestor with a large sum of ready cash to step in at an auc­tion and to over­ride the as­pir­ing young fam­ily by snatch­ing the home away with­out any qualms.

Fur­ther­more, I am very sus­pi­cious of the idea that free­ing beau­ti­ful fam­ily homes from pen­sion­ers for what­ever rea­son will solve the prob­lem for young Aus­tralians in the im­pos­si­ble cur­rent prop­erty cli­mate.

I may be wrong, but I am con­vinced that by per­suad­ing the hap­less pen­sioner that “it is in his or her in­ter­est to down­size” for the ben­e­fit of the younger gen­er­a­tion’s ac­com­mo­da­tion needs, nei­ther party will have a home in the end.

Too many out­siders and peo­ple with money will take ad­van­tage of both the younger buyer and older seller. ROSA DOUGHTY-LARSEN, River­ton.

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