Fed: Tough housing market sees kids fly back to the nest

AAP General News (Australia)
08-08-2008
Fed: Tough housing market sees kids fly back to the nest

There's more bad news for parents hoping to have their home free of their Generation
Y kids .. with news one in ten young people who live out of home are thinking of moving
back in.

Research by ING Direct on current housing pressures has found young people are responding
to high rents and interest rates by moving back in with their parents.

The research has found almost half of Australian families plan to make changes to their
living arrangements in response to a tough housing market.

Many plan to pay off their mortgage more quickly .. or draw down from their mortgage
.. while eight per cent of families plan to sell their home.

AAP RTV ca/tm/psm/

KEYWORD: HOUSING YOUNG (CANBERRA)

2008 AAP Information Services Pty Limited (AAP) or its Licensors.