Draining entire superannuation savings wouldn’t cover most young couples’ home deposits, research finds

PeelerSheila , 3 months ago

I think using your super as a deposit for a house is a terrible idea because you could basically end up like my mum: an elderly homeowner having to pay to maintain and repair an ageing home and no income other than the pension to live on. She's long gone now, but I'll never forget how hard it was for her, and how she had to borrow money from a friend to replace the old heater that broke and couldn't be fixed. Every pension day it was decision time, what to pay and what to delay. Meanwhile the house was slowly falling into disrepair.

ramble81 , 3 months ago

For the non-Aussies, what’s a superannuation?

BrikoX OP , 3 months ago

Pension type fund.

WhatAmLemmy , 3 months ago

The whole concept of using super to pay for housing is identical to the approach that created the housing crisis — a neoliberal non-solution that deepens and extends the crises for the benefit of the wealthiest.

Kicking the can down the road by robbing from the future to satiate the greed and failures of both the past and present.