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Driver fined $544 for little known road act

A Mercedes driver has copped a massive fine after illegally transporting a ladder in the back of his car. The motorist thought he snagged a bargain on Gumtree, buying a ladder from someone who lived only a few streets away. But when he went to take the ladder home after placing it in the backseat of his car, the ladder was protruding almost one metre out the window. Highway Patrol officers in Sydney's west stopped the driver who said, "I picked it up from someone on Gumtree, I’m just going down the road". He was $544 and lost three demerit points by the roadside, with the short distance of travel between his purchase location and destination meaning nothing to police due to the dangerous nature of the act. The driver claims he "didn't know" it was an offence to drive with a protruding load, despite every state and territory handed an on-the-spot fine if any items stick out of a moving vehicle. "Due to the danger posed to other road users as well as the driver himself, he was issued with an infringement," NSW Police said, explaining that the driver was able to disassemble the ladder and store it "more suitably" in the car before taking off again. In NSW, the fine for driving with a protruding load will set a motorist back $349. Across the country, fines fall between $200 to $400 for drivers of light vehicles, however, those in heavy vehicles can pay thousands. Protruding loads can alter the weight distribution of a car and make it unstable and unsafe to drive, reducing a driver's control, while also posing a risk of hitting others on the road, pedestrians or cyclists. Image credits: Facebook

Legal

Pet owner fined $806 over simple mistake

A poodle owner has been fined $806 over a 10-metre walk to the beach. John, who lives a few minutes away from Budd's Beach in Queensland, took his van down to the water's edge and walked roughly 10 metres across the shoreline with his dog Emma by his side. Little did he know that this common act would cost him $806 under new regulations that came into effect on July 31, where pet owners can get fined for not having a pet on a leash or not maintaining proper control of the leash while in public. "I thought that it was very unfair ...I was only traveling from my van to the water," John told A Current Affair. "I wasn't wandering along the footpath or in public areas or anywhere. "I was just passing, travelling from the car to the water... I really didn't think that I was doing anything wrong." John was fined for “failure to exercise effective control of a non regulated dog in a public place”. There are signs further up Budd's Beach that state dogs must be on a leash at all times, and John said he does use a lead when he takes his pup out for a walk. The massive fines are a part of the Queensland government's crackdown on dog attacks, with fines of up to $112,910 for more serious dog attack offences as well as up to three years imprisonment. “Changes were made to the AMCDA due to a rise in complaints about aggressive dogs and dog attacks, and the large number of dog-attack victims admitted to hospital each year in Queensland,” the Queensland government said in a statement online. Another Queensland resident has also been fined under the same laws for having her dog's lead under her foot during a coffee break. “It’s wrong, we are trying to survive and it is another stress I didn’t need,” the resident said. “She was on a lead and collar and she was behaving properly." Images: Nine

Legal

Becoming a landlord while still renting? ‘Rentvesting’ promises a foot on the property ladder, but watch your step

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> As home ownership moves further out of reach for many Australians, “rentvesting” is being touted as a lifesaver. Rentvesting is the practice of renting one property to live in yourself, while simultaneously purchasing an investment property somewhere cheaper and leasing it out. Ideally, “rentvestors” get to enjoy the capital gains on an investment property while living where they actually want to live, allowing them to cash in and upsize to their dream home later. It might seem like a savvy way to game the property market. But what are the risks of such an investment strategy? And how might broad adoption of this behaviour affect housing affordability in Australia? <h2>A rising tide lifts all boats differently</h2> The aim of the rentvesting game is to buy cheap property now, ride the expected capital gains, and move into a more desirable home down the track. The hope is that by climbing the first rung of the property ladder early, the whole thing won’t be pulled up out of reach. The first problem with this strategy, however, is that capital gains on housing are not always and everywhere equal. Generally, the cheapest properties available to rentvestors will be houses in the regions or apartments in the city. But both regional housing and apartment properties <a href="https://www.abc.net.au/news/2024-02-20/house-apartment-price-gap-widens-record-high-property-market/103484076">tend to appreciate more slowly</a> than the inner-city houses rentvestors might hope to live in one day. They might get a foot on the property ladder, but the rungs themselves are slowly drifting apart. Would-be rentvestors should also be aware that investments by “out-of-town” buyers tend to generate <a href="https://academic.oup.com/rfs/article-abstract/29/2/486/1902789">much lower returns</a> – both capital gains and rental yields – than investments by locals. Out-of-towners don’t know the local market trends, don’t know which neighbourhoods to avoid, and aren’t able to monitor their investments as effectively from afar. Avoiding the regions by investing in city apartments presents its own difficulties. Large, unexpected maintenance bills and poor strata management are <a href="https://www.abc.net.au/news/2024-03-21/a-world-of-hidden-charges:-strata-company-insiders/103617944">common complaints</a>. <h2>Different costs lead to different returns</h2> Perhaps the potential rentvestor should invest in something more straightforward instead, like stocks. After all, the return on equities in Australia has <a href="https://academic.oup.com/qje/article/134/3/1225/5435538">outperformed housing</a> in recent decades. However, it is much easier to borrow to invest in property than it is to borrow to invest in the stock market. And leverage is the investor’s secret weapon. For example, if house prices were to appreciate at 10% per year, then using a mortgage and a A$100,000 deposit on a $1 million property would earn you a 100% return on equity before costs. But while both investors and homeowners would earn that same basic return, their costs could be very different. For starters, property investors face capital gains tax on the proceeds of property sales, <a href="https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/property-and-capital-gains-tax/your-main-residence-home/eligibility-for-main-residence-exemption">unlike those selling their primary residence</a>. Banks also typically charge <a href="https://www.rba.gov.au/chart-pack/interest-rates.html">higher interest rates</a> on mortgages to investors than to homeowners. At times, the Australian Prudential Regulation Authority has also imposed caps on bank lending against investment properties, making it more difficult to find mortgage financing in the first place. Highly leveraged properties require mortgage insurance, too. Investors may need to take out larger insurance policies against the properties themselves, reflecting the higher risks associated with investment properties. Then, you also have to throw in property management fees, council rates, strata management fees and regular and unexpected maintenance costs. <h2>Negative gearing offers little benefit</h2> What about negative gearing? Property investors that generate losses on their property can deduct these costs against the tax bill on their other income. But negative gearing disproportionately benefits high-income earners with large tax bills. The <a href="https://www.abs.gov.au/statistics/labour/earnings-and-working-conditions/personal-income-australia/latest-release">median Australian individual income</a> is around $55,00, which generates a tax bill of about $8,000 – not a lot from which investment property losses can be deducted. The bigger picture is that while negative gearing helps defray the regular costs of managing a property, it doesn’t do anything to change expected capital gains. At the end of the spreadsheet tally, an investment property could end up earning rentvestors significantly less than they could have gained by simply buying their first home. <h2>Effects on housing affordability</h2> Rentvesting is new enough that its prevalence and influence awaits formal academic study. But economists might speculate about its implications for the housing market more broadly. The simplest analysis suggests that a rentvestor occupies one rental property while supplying an additional rental property to the market. If, instead, they had bought a home, they would vacate a rental property while removing another property from the market. In this case, even rentvesting en masse would have zero net effect on the housing market. But a more nuanced perspective might consider where rentvestors are renting and where they are investing. Perhaps they are most likely to rent properties in the already-crowded inner city, but purchase investment properties in regional areas where other first home buyers would like to live. This would increase demand for rentals in the city and reduce the supply of owner-occupier properties in the regions, worsening the affordability of both. Of course, if these rentvestors all eventually move up the property ladder – selling in the region and purchasing in the city – this effect would be reversed. From that longer-term perspective, rentvestors would ultimately have little effect. <h2>We still need more houses</h2> Rentvesting is not a panacea for Australia’s housing market woes. Potential investors should weigh the benefits of property investment against its substantial costs and risks. Additionally, they need to carefully consider the obvious alternative: simply buying their first home up-front. We have good reason to be wary of yet another get-rich-quick scheme involving the housing market. But initial considerations suggest that for the market overall, rentvestor behaviour is no worse than someone simply buying their first home, which we would otherwise encourage. Rather than criticising those seeking a way though our housing market morass, we might instead redouble our efforts to increase the supply of housing.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/229116/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/becoming-a-landlord-while-still-renting-rentvesting-promises-a-foot-on-the-property-ladder-but-watch-your-step-229116">original article</a>. </div>

Money & Banking

The strange history of these 5 common superstitions

Where superstitions come from You probably engage in many of these superstitions as second nature, but have you ever thought about where they come from? Superstition: Black cats are bad omens The backstory: Despite centuries of royal treatment (Egyptians worshipped them; the Norse goddess Freya rode in a chariot pulled by them), cats took a big hit to their reputation in the 1200s, when Pope Gregory IX, waging a culture war on pagan symbols, damned cats as servants of Satan. As a result, cats – especially black ones – were killed across Europe. One unintended consequence, according to some historians: The cat-deprived continent may have allowed disease-carrying rodents to flourish and spread the bubonic plague of 1348. Rumours that the feline’s fangs and fur were venomous persisted, and by the witch-hunting days of the 1600s, many Puritans believed black cats to be “familiars” – supernatural demons that serve witches – and avoided them (to borrow an apt phrase) like the plague. Superstition: Never walk under a ladder The backstory: Depending on your background, a ladder leaning against a wall can represent an honest day’s work, a textbook geometry problem, or a symbol of the Holy Trinity that, if breached, will damn your soul. That last bit is what some ancient Christians believed – that any triangle represented the Trinity, and disrupting one could summon the Evil One. These days, our under-ladder phobia is a smidge more practical: Avoid it because you might get beaned by falling tools, debris, or an even less lucky human. Superstition: Break a mirror and see seven years of bad luck The backstory: Numerous ancient cultures agree: Your reflection doesn’t just reveal whether you’re having a bad hair day – it also holds a piece of your soul. To break a mirror, then, is to fracture your very essence, leaving you vulnerable to bad luck. So why should the sentence last seven years? Some writers cite the ancient Romans, who are said to have believed that the human body and soul fully regenerate every seven years. Any poor pleb who fractured his or her soul in the looking glass would therefore have to endure the bad karma until the soul renewed again. Superstition: A full moon brings out the crazies The backstory: Ever wonder where the word lunatic came from? Look no further than luna, the Latin word for the moon. Many Greeks knew that the moon and its goddess, Luna, held the tides in their thrall, and Aristotle considered the human brain – the “moistest” organ – particularly susceptible to Luna’s pull. Ancient physician Hippocrates agreed, writing, “One who is seized with terror, fright and madness during the night is being visited by the goddess of the moon.” Today, some emergency room workers still believe the full moon means trouble. Superstition: Say “God bless you” after a sneeze or risk something worse than a cold The backstory: You’ve probably heard the myth that a sneeze stops the heart (it doesn’t) or separates body from soul (science declines to comment there). But to explain the ritual of post-sneeze “blessing,” we can look to another pope. During the first recorded plague pandemic, in the sixth century, severe sneezing often portended sudden death. As a desperate precaution, Pope Gregory I supposedly asked followers to say “God bless you” every time someone sneezed. Today, it’s just polite. Image credits: Getty Images This article originally appeared on <a href="https://www.readersdigest.com.au/culture/this-is-the-history-behind-these-5-common-superstitions" target="_blank" rel="noopener">Reader's Digest</a>.

Caring

The ethics of home ownership in an age of growing inequality

For many Americans today, <a href="https://www.pewresearch.org/fact-tank/2022/03/23/key-facts-about-housing-affordability-in-the-u-s/">homeownership is an unattainable dream</a>. In 2022, the average <a href="https://apnews.com/article/inflation-business-economy-prices-mortgages-b3d20020ecddf7a13bd62fb7b5ed7c0c">long-term U.S. mortgage rate rose to 7%</a> for the first time in more than two decades. The median sales price of existing homes <a href="https://www.wsj.com/articles/u-s-home-sales-fell-again-in-june-economists-estimate-11658309401">climbed to a record US$416,000</a> while demand for mortgages dropped to a <a href="https://www.cnbc.com/2022/10/19/mortgage-demand-drops-to-a-25-year-low-as-interest-rates-climb.html">25-year low</a>. Experts forecast a turnaround in 2023, predicting a fall in <a href="https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/">home prices</a> and <a href="https://www.forbes.com/advisor/mortgages/mortgage-interest-rates-forecast/">mortgage rates</a>. With the housing market likely to cool modestly, the prospect of a gradual return to affordability may sound like music to buyers’ ears. But should people be purchasing property at all? My <a href="https://hi.psu.edu/scholars/desiree-lim/">research examines</a> the negative impact of property ownership. Despite the current state of the housing market, property is <a href="https://www.forbes.com/sites/qai/2022/08/30/housing-prices-are-dropping---yes-a-house-is-still-a-good-investment/">still considered a sound investment</a> – at least for the limited group who can afford it. However, property ownership can have serious consequences on others’ lives. <h2>Buying to make a profit?</h2> There is a difference between the two main categories of property buyers: those purchasing property as a primary home versus property for investment. Purchasing property as a primary home is considered more ethical than acquiring property for investment, as housing is considered a basic necessity. Property for investment, however, is owned for personal profit, often without the owner’s intending to ever live there. Investors may purchase homes that can be “fixed and flipped” and sell them at a profit or lease them to renters. As of 2019, renters headed around <a href="https://www.pewresearch.org/fact-tank/2021/08/02/as-national-eviction-ban-expires-a-look-at-who-rents-and-who-owns-in-the-u-s/">36% of the nation’s 122.8 million households</a>. Census data shows that <a href="https://www.census.gov/housing/hvs/files/currenthvspress.pdf">there are 48.2 million rental units</a> in the U.S., roughly 70% of which are owned by individual landlords. <h2>Landlordphobia?</h2> Landlords have often been <a href="https://jacobin.com/2021/07/abolish-landlords-cancel-rent-eviction-homelessness">criticized for being callous</a> and <a href="https://www.theguardian.com/commentisfree/2018/apr/16/landlords-social-parasites-last-people-should-be-honouring-buy-to-let">greedy</a>. <a href="https://doi.org/10.1007/s11524-020-00502-1">COVID-19</a> exacerbated landlords’ poor reputations because the pandemic increased <a href="https://doi.org/10.1080/10511482.2021.2020866">renter payment difficulties</a> and <a href="https://doi.org/10.2105/AJPH.2021.306353">triggered widespread evictions</a> and <a href="http://dx.doi.org/10.2139/ssrn.3613030">homelessness</a>. Some renters complained about uncaring landlords who were <a href="https://doi.org/10.1111/josi.12555">accused of pressuring and threatening vulnerable tenants</a>. The federal and state governments stepped in to help people with such interventions as the <a href="https://nlihc.org/coronavirus-and-housing-homelessness/national-eviction-moratorium">federal eviction moratorium</a> and New York City’s <a href="https://www.nyc.gov/site/rentfreeze/index.page">rent freeze program</a>. Yet landlords also provide rental opportunities for those who prefer not to buy and for those who wish to buy their own home but cannot afford it. Furthermore, landlords can be seen as offering a <a href="https://www.businessinsider.com/personal-finance/reasons-renting-a-house-is-better-than-buying-one-2019-8?r=US&IR=T">valuable service to those who are not seeking long-term occupancy</a>, such as university students who plan to leave upon graduation or temporary visitors to the U.S. The ethics of renting out property, then, seems to turn partly on whether renters need it for long-term basic shelter. Landlords are often blamed for the housing crisis. However, it is the responsibility of the government to ensure the <a href="https://www.ohchr.org/en/special-procedures/sr-housing/homelessness-and-human-rights">right to long-term shelter</a>. Individual landlords may contribute toward a poor housing system, but they act within the confines of the system. Only governments have the power to change the system, through investment in affordable housing. <h2>The ethics of owning a home</h2> Homebuyers also have ethical obligations to others. Choosing to own property in a <a href="https://bayareaequityatlas.org/indicators/gentrification-risk#/">gentrifying neighborhood, or one considered at risk of gentrifying</a>, may contribute to the forced displacement of <a href="https://www.law.georgetown.edu/poverty-journal/blog/examining-the-negative-impacts-of-gentrification/">existing long-term residents</a>. The harms of having to leave one’s former neighborhood include the severing of community networks or enduring the strain of <a href="https://www.nytimes.com/2017/08/17/business/economy/san-francisco-commute.html">extraordinarily long work commutes</a>. Additionally, persons of color <a href="http://www.wipsociology.org/2021/05/20/how-gentrification-reproduces-racial-inequality">are disproportionately affected by gentrification</a>, which may create new patterns of racial segregation. Given these consequences, aspiring homeowners should perhaps avoid purchasing homes in neighbourhoods with vulnerable residents. But, with housing unaffordability writ large, first-time buyers may be able to afford properties only in neighborhoods at risk of gentrification. <h2>Mitigating risk</h2> How can governments mitigate risks like racial segregation while also providing affordable housing? One example is Singapore’s system of <a href="https://www.bloomberg.com/news/articles/2020-07-08/behind-the-design-of-singapore-s-low-cost-housing">affordable public housing</a>. To prevent segregation, Singapore introduced racial quotas in public housing that require minimum levels of occupancy of each of its main ethnic groups – Chinese, Malay, Indian, and others, which includes all other ethnicities. Though intrusive and <a href="https://www.cigionline.org/static/documents/documents/PB%20no.128web.pdf">imperfect in its execution</a>, the Singaporean approach shows that a more proactive approach to housing is possible. Landlords may have moral duties, but the government’s role in recognising and protecting the right to stable long-term housing must not be ignored. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/the-ethics-of-home-ownership-in-an-age-of-growing-inequality-196775" target="_blank" rel="noopener">The Conversation</a>.

Real Estate

Would you agree to ‘part-time ownership’ of your pet?

A dog owner has caused a stir after sharing an ad for “part-time” ownership of their pet, with some calling it out as an attempt to get free pet sitting. The owner’s ad, which was shared to Reddit’s ‘Sydney’ thread, offers up a cute pooch called Tedy for an “alternate family”. "Do you love dogs but are too busy to have a full-time commitment or too much financially?” the post reads. "Tedy is looking for an alternative family. Would you like your kids to have a dog? My mum is happy to share me with you on weekends or afternoons (as per agreement) for an exchange to look after me when she is travelling. "Interested to learn more? Please get in touch." <img src="https://oversixtydev.blob.core.windows.net/media/2022/10/reddit-ad-dog.jpg" alt="" width="1280" height="720" /> A dog owner advertising for an “alternative family” for their pooch has caused debate online. Image: Reddit While some Reddit users showed interest in the ad, others criticised the owner. "Next thing we know people will be looking to offer a part-time baby," one person said. "Jokes aside, this is indeed a very clever way to get free pet sitting, but also a win-win for some who would love to have a pet, but can’t afford or just don't have enough time," another added. A few came to the owner’s defence, saying that it’s possible for everyone to benefit from these kinds of arrangements. "Pet sharing is definitely a thing. It seems a bit cheeky to me but maybe everyone benefits,” one shared. "As a recently-single dog owner I would love to do something like this," a second said. One person baulked at the idea of leaving their fur baby with another family, writing: “I love him to death and I can't stand leaving my little buddy at home by himself, so I hardly go out unless it's somewhere I can bring him. Luckily I work from home and you can take your dog almost anywhere in my neighbourhood.” Another suggested that the idea could be okay if Tedy’s owners paid for his food and other supplies while they were away. “It’s free dog sitting but some people like having a temporary pet, too,” they added. Image: Getty Images

Family & Pets

Not just ramps and doorways – disability housing is about choosing where, how and who you live with

Home ownership among young people is falling sharply, while renters face worrying insecurity. Nowhere is this more pronounced than for the 4.4 million Australians living with a disability and, in particular, the 660,000 plus Australians with an intellectual disability. For the majority of these people, owning a home is impossible without financial support from their families. With the loss of this support, they can find themselves in <a href="https://theconversation.com/the-forgotten-660-000-locked-out-of-home-ownership-74926" target="_blank" rel="noopener">precarious or even abusive situations</a>. Stuck in a cycle of temporary accommodation or forced into group homes (or even nursing homes) <a href="https://disability.royalcommission.gov.au/system/files/202203/Overview%20of%20responses%20to%20the%20Group%20homes%20Issues%20paper.pdf" target="_blank" rel="noopener">with little control</a> over where and who they live with. If the entire premise of the National Disability Insurance Scheme (NDIS) is to give people more choice and autonomy over their lives, then that must extend to people’s fundamental needs for appropriate housing. To uphold the <a href="https://accessandinclusionindex.com.au/" target="_blank" rel="noopener">access and inclusion</a> rights of people with a disability, their housing needs must be a priority. One alternative gaining traction in Australia is the <a href="https://buildinglifeskills.org/" target="_blank" rel="noopener">co-design, co-living model</a> which could offer a range of benefits for people living with a disability. Living at the end of the road People in Australia living with a disability have <a href="https://theconversation.com/we-cant-just-leave-it-to-the-ndis-to-create-cities-that-work-to-include-people-with-disability-93419" target="_blank" rel="noopener">less access</a> to services, social activities, and green spaces compared to people without a disability. Over the last decade, market-driven approaches to disability housing in Australia have favoured cost effectiveness and replication, leading to <a href="https://link.springer.com/article/10.1007/s10901-016-9499-0" target="_blank" rel="noopener">limited design diversity, innovation and choice</a>. At a planning level, this has produced <a href="https://www.researchgate.net/publication/272366148_Movement_on_Shifting_Sands_Deinstitutionalisation_and_People_with_Intellectual_Disability_in_Australia_1974-2014%20&%20https://www.un.org/development/desa/disabilities/resources/disability-accessibility-and-sustainable-urban-development.html" target="_blank" rel="noopener">socially isolated dwellings</a> with inadequate consideration of mobility, access to nature, and access to community spaces and services. We know the built environment around us can have <a href="https://www.aihw.gov.au/reports/australias-health/built-environment-and-health" target="_blank" rel="noopener">positive and negative effects on our health</a> – from determining activity levels, to food access, to our contact with nature and social spaces. It also affects the air we breathe, water we drink and shelter from the elements. Residents of highly green neighbourhoods, for instance, have <a href="https://www.researchgate.net/publication/5420708_Associations_of_neighbourhood_greenness_with_physical_and_mental_health_Do_walking_social_coherence_and_local_social_interaction_explain_the_relationships" target="_blank" rel="noopener">1.37 and 1.6 times greater odds</a> of better physical and mental health than those who perceive their neighbourhood as less green. Profit-driven design In general, commercial housing developments are not accessible. Designs are driven by costs and wide scale trends. When required, housing may meet the minimum accessibility requirements but almost never considers the end-user needs. This can create inappropriate environments, which then <a href="https://www.researchgate.net/publication/275226130_The_Provision_of_Visitable_Housing_in_Australia_Down_to_the_Detail" target="_blank" rel="noopener">require modification</a> for individuals – a wasteful and costly approach. Even housing with the express design purpose of being accessible can fail. A recent survey found <a href="https://www.researchgate.net/publication/275226130_The_Provision_of_Visitable_Housing_in_Australia_Down_to_the_Detail" target="_blank" rel="noopener">only 44% of accessible housing</a> complied with the <a href="https://livablehousingaustralia.org.au/design-guidelines/" target="_blank" rel="noopener">Liveable Housing Design Guidelines</a>. Conversely, when we focus on <a href="https://www.tandfonline.com/doi/full/10.1080/09638288.2022.2060343" target="_blank" rel="noopener">successful housing projects</a> for people living with a disability, we see common architectural features: inviting communal spaces; private individual dwellings; commercial opportunities for residents; and on-site support. Well-designed buildings “speak” to their environments too – be it the footpath or the grove – and <a href="https://www.cambridge.org/core/journals/arq-architectural-research-quarterly/article/abs/sustainable-community-and-environment-in-tropical-singapore-highrise-housing-the-case-of-bedok-court-condominium/E65ABF71130F6881C1904F651C1DDA4F" target="_blank" rel="noopener">foster community</a> connection. <blockquote class="twitter-tweet"> We look forward to working with <a href="https://twitter.com/billshortenmp?ref_src=twsrc%5Etfw">@billshortenmp</a> and <a href="https://twitter.com/AustralianLabor?ref_src=twsrc%5Etfw">@AustralianLabor</a> to get <a href="https://twitter.com/hashtag/NDIS?src=hash&ref_src=twsrc%5Etfw">#NDIS</a> participants the housing they need, when they need it. That means faster, accurate decisions on housing and support. Australians with <a href="https://twitter.com/hashtag/disability?src=hash&ref_src=twsrc%5Etfw">#disability</a> deserve the security of living in their own home. <a href="https://t.co/47TULoiptM">pic.twitter.com/47TULoiptM</a> — Summer Foundation (@SummerFoundtn) <a href="https://twitter.com/SummerFoundtn/status/1537601252116381699?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> Could co-housing be the answer? Many recipients of the NDIS would <a href="https://theconversation.com/ndis-needs-the-market-to-help-make-up-at-least-60-shortfall-in-specialist-disability-housing-93479" target="_blank" rel="noopener">like to live independently</a> in their own home but with easy access to onsite support. A connected model could be the answer. <a href="https://link.springer.com/article/10.1007/s10901-016-9499-0" target="_blank" rel="noopener">Co-housing</a> is the idea of semi-communal living that includes shared facilities and public space, self-governance, and design input from potential residents. Studies show how health and well-being is improved by living in deliberate and dedicated co-housing. This may be explained by <a href="https://www.semanticscholar.org/paper/Exploring-the-relationship-between-social-and-Wardle/b4b89ebee41b03434bf2df234930d9e705679b1c" target="_blank" rel="noopener">greater social inclusion and less loneliness</a>. People in co-housing also have reduced care needs compared to those living in conventional circumstances – <a href="https://link.springer.com/content/pdf/10.17269/s41997-018-0163-1.pdf" target="_blank" rel="noopener">13% of residents compared to 22%</a>, a gap which widens significantly with age. More research is needed, but there also seems to be a link between less <a href="https://www.researchgate.net/publication/263247830_Community_and_Civil_Society_Returns_of_Multi-generation_Cohousing_in_Germany" target="_blank" rel="noopener">chronic disease and lower impairment</a> and co-housing. <blockquote class="twitter-tweet"> One in four Americans has a serious cognitive or physical disability. Could co-housing change their lives forever? <a href="https://t.co/S0og5JTALe">https://t.co/S0og5JTALe</a> <a href="https://t.co/dMVCCjEUm4">pic.twitter.com/dMVCCjEUm4</a> — Reasons to be Cheerful (@RTB_Cheerful) <a href="https://twitter.com/RTB_Cheerful/status/1304801963645730818?ref_src=twsrc%5Etfw">September 12, 2020</a></blockquote> These ideas in practice We were involved as designers of a proposed co-housing project in Perth’s south-east in Western Australia. The idea was instigated by the clients and families of <a href="https://buildingfriendships.com.au/" target="_blank" rel="noopener">Building Friendships</a>, a disability service provider that facilitates social outings and short trips to assist with developing life skills through community interactions. The project uses co-site selection and co-design sessions with end-users to create better design outcomes and <a href="https://www.researchgate.net/publication/262690855_Transformational_Practices_in_Cohousing_Enhancing_Residents'_Connection_to_Community_and_Nature" target="_blank" rel="noopener">build social capital</a> from the beginning. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=350&fit=crop&dpr=1 600w, https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=350&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=350&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=440&fit=crop&dpr=1 754w, https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=440&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/465305/original/file-20220525-13-lxxvsu.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=440&fit=crop&dpr=3 2262w" alt="artist's image of proposed housing development with trees around" /></a><figcaption>The Perth project is based on a co-housing model. Author provided</figcaption></figure> The design includes 20 private pod houses with a central hub where residents gather, cook, socialise, and learn new skills including gardening in an existing and successful veggie growing enterprise. There are also on-site support services. The project draws inspiration from domestic projects such as <a href="https://www.archdaily.com/625274/walumba-elders-centre-iredale-pedersen-hook-architects" target="_blank" rel="noopener">Walumba Elders Centre</a> in Warman, WA, and international examples such as the <a href="https://www.archdaily.com/981031/group-home-on-hilltop-sogo-aud?ad_source=search&ad_medium=projects_tab" target="_blank" rel="noopener">Group Home on Hilltop</a> in Hachioji, Japan. At the heart of these examples lies good locations, good buildings, and opportunities to live alongside others: community, amenity and quality of space. This shouldn’t really be unusual or remarkable. Fundamental to this approach is simply raising the bar for people living with a disability to that of everyone else.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/183523/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/robert-cameron-1328562" target="_blank" rel="noopener">Robert Cameron</a>, Associate Lecturer/Researcher, <a href="https://theconversation.com/institutions/the-university-of-western-australia-1067" target="_blank" rel="noopener">The University of Western Australia</a>; <a href="https://theconversation.com/profiles/daniel-jan-martin-1349031" target="_blank" rel="noopener">Daniel Jan Martin</a>, , <a href="https://theconversation.com/institutions/the-university-of-western-australia-1067" target="_blank" rel="noopener">The University of Western Australia</a>, and <a href="https://theconversation.com/profiles/emily-van-eyk-1349999">Emily Van Eyk</a>, Lecturer & Architect, <a href="https://theconversation.com/institutions/the-university-of-western-australia-1067" target="_blank" rel="noopener">The University of Western Australia</a> This article is republished from <a href="https://theconversation.com" target="_blank" rel="noopener">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/not-just-ramps-and-doorways-disability-housing-is-about-choosing-where-how-and-who-you-live-with-183523" target="_blank" rel="noopener">original article</a>. Image: Getty Images

Real Estate

Tips and traps when moving in with your children

The Australian Bureau of Statistics tells us that 6.9% of people aged 65+ already live with their children. No doubt many more are actively considering it as an option, but before making the move it’s important to consider the pros and cons. The reasons for moving in with children may vary widely. It could be a financially based decision, helping one or both parties to consolidate their cost of living. For others it may be due to the adult children deciding to offer care for a parent with a physical impairment or illness. On the other side of the coin, it may be driven by the adult children needing the assistance of retired parents in taking care of grandchildren. Think back to the hilarious movie (pictured), Parental Guidance. While there are some obvious benefits to sharing living costs and improving family connections, there are some issues and difficulties that may not be so apparent at the outset. Here are some handy hints on what you need to consider to help make it a success. The danger of making assumptions The concept of moving in with your children may happen in a number of ways. You might offer to use your own money to build a granny flat on their property or to make renovations or extensions onto their home to accommodate you. Another scenario is for both parties to sell their homes and buy a new property together, which is better suited to shared living. While these arrangements may seem fair and practical for both parties it is vital that great care is taken to protect your financial stake in the venture. While things may start out rosy, the reality is that there can be conflicts, misunderstandings, divorce or other family disruptions that can put your financial contribution at risk if things are not spelled out clearly at the outset. Imagine if the child you move in with ends up in an acrimonious divorce. The property settlement may involve the need to sell the home and if there is no documented evidence of your stake in the ownership, there could be a risk of you losing your money or having to go through legal action to reclaim it. Make sure there is an agreement in writing Any arrangement that involves a large amount of money or the exchange of property needs to have a written agreement drawn up. It doesn’t matter how good the family relationship is or how much trust exists, it is simply a matter of practicality. A written agreement does not indicate a lack of trust, but simply makes it clear to both parties what the expectations are. It brings clarity and prompts both sides to more fully consider all future possibilities. Putting things in writing will naturally help everyone to look at things objectively. Once it is in writing and signed by both parties then there is a basis for impartially sorting out future eventualities and a clear reference for any possible legal claims. Obtain your own legal advice Getting legal advice on the written agreement can help uncover issues you may not have considered and will help to express the spirit of the agreement in concrete and unambiguous terms. In doing this, however, don’t simply rely only on one side making the legal arrangements. You should enlist your own legal adviser who you consult separately and privately to ensure your needs and wishes are properly reflected in the agreement. This may seem pedantic at the time, but can prevent a lot of heartache down the track if the unexpected happens. Some of the major areas that an agreement should cover: <ul> <li>What will happen if relationships change, such as you or your children going through divorce or starting new relationships?</li> <li>What is the nature of your financial contribution? Is it a gift or a loan? Should the property title be changed to recognise your shared ownership?</li> <li>How will you be compensated if you change your mind and want to move out? How will financial interests be calculated? </li> <li>What will be done financially and practically if your health deteriorates and you need extra care to stay in your shared accommodation or if you need to move to residential aged care?</li> <li>If there are other children outside of the agreement, how will their inheritance be affected by the agreement? Is there a need to adjust wills to reflect the desired outcomes?</li> <li>Is there an expectation of personal care being supplied by the child as part of the agreement? How will this be dealt with if your personal needs change or increase in the future? </li> </ul> Your pension may be impacted too If you are receiving a pension, the written agreement may also be important for the purposes of calculating your pension entitlements. Centrelink have specific rules on granny flat arrangements that need to be taken into account. More information on this can be found at their <a href="http://www.humanservices.gov.au/customer/enablers/assets/granny-flats">website</a>. What should you do if disputes do occur? It is important to get prompt legal advice as soon as any disagreement arises. Any delay may reduce your ability to protect your legal interests. Sharing accommodation with children can have many mutual benefits, but planning is essential to make it a successful move. *Australian Bureau of Statistics Report - Reflecting a Nation: Stories from the 2011 Census, 2012–2013 Republished with permission of <a href="https://www.wyza.com.au/articles/lifestyle/relationships/tips-and-traps-when-moving-in-with-your-children.aspx">Wyza.com.au. </a>

Retirement Life

Safety at home is more important as we age

The ageing of Australia’s population in the coming decades has significant implications for the housing market. So how might your needs change and what should you be thinking about when it comes to your current home or future needs? Home safety features, small and manageable housing, and easy accessibility will become more attractive to a growing proportion of our population, turning much of Australia’s traditional housing, designed for a post-war baby boom as well as younger, larger families, on its head. Over the 20 years between 1994 and 2014, the proportion of Australians aged 65 and over increased from 11.8 to 14.7 per cent of Australia’s population. This group is expected to increase more rapidly over the next decade, according to Australian Bureau of Statistics data, to almost 26 per cent by 2051. A further nine per cent is expected to be aged over 80. It’s therefore pretty clear that many more of us will be living alone and wanting suitable housing. More families will be caring for a parent or relative, and others will want to stay on in their homes despite debilitating illnesses that can be associated with ageing. This has important implications for the design, layout, fittings and locations of our existing and future housing. Because it’s increasingly clear that government may struggle to fund the supply of dedicated, affordable housing facilities for seniors, many of us will find that it is up to us to plan how we can adapt our existing homes so they remain suitable for us well into the future. This means we need to start anticipating today what our future needs may be, as well as what precautions and aids may be needed. If you are beginning to weigh up your housing options or you’re keeping an eye on a parent, relative or friend, here is some advice: Stairs and entrances Many of us downsize from family homes to multi-level townhouses and, as time goes on, we start struggling with stairs. If you’re considering downsizing, try and keep in mind finding a property with at least one bedroom and bathroom on the ground floor. That way, if stairs become difficult, you have the option of adjusting your living arrangements and staying in your home, rather than having to sell. If you have stairs, make sure there are secure handrails, a smoke detector, and that the stairs and stairwell are well lit. Also make sure that the floor coverings, whether carpet, wood or tiles, are secure and can’t be slipped on. The entrance and hallways should also be clear of any clutter, and have easily accessible bright lighting. The kitchen It’s important to make sure that kitchen appliances are easy to reach and are in good working order. Easily reached kitchen taps, microwave, oven, and stovetop controls all play a role in helping us remain self-sufficient in meal preparation. Thought should also be given to the height of bench tops, cupboards, and how easy it is to carry food from the kitchen to the eating area. It can be worthwhile making some simple design changes now rather than waiting until a parent or relative starts to have problems. The bathroom Moving in and out of the shower or bath without risk, and with ease, is the most important safety feature for the bathroom. Could you need to install bars or a shower seat in the future? Is it possible to add non-slip rubber mats in and beside the shower and bath? Is the shower door easy to open and close or is it difficult to manoeuvre around? Also, can the bathroom be easily accessed at night, without having to use stairs? The bedroom It’s important there’s a clear, uncluttered path from the bedroom to the bathroom as well as to the doorway leaving the bedroom. You might also want to consider whether it’s possible to put a television and armchair in the bedroom, if there’s the space, as this can provide a private, comfortable and secure area to relax in the evenings. It’s also important to consider whether there’s an easily accessible telephone, in the event of emergencies. Other areas It’s also important to make sure working smoke alarms are placed throughout the home, and make arrangements for batteries to be changed at least annually. In fact, better still, it’s a good idea to check your smoke alarms at the beginning and end of daylight saving. As you re-set clocks, just check the smoke detectors. All appliances should be in good working order and stray cords that can easily be tripped over should be firmly taped or reorganised. Take a look at your door and cupboard handles. It’s much easier to replace handles than the property, when somebody in your care is becoming less mobile. And finally, make sure emergency phone numbers are kept beside every phone in the house. While a safety assessment of the home might seem something only parents of young children need to need to worry about, it is an exercise that can benefit everybody. Written by First National. Republished with permission of <a href="https://www.wyza.com.au/articles/property/safety-at-home-is-more-important-as-we-age.aspx">Wyza.com.au.</a>

Legal

Ideas of home and ownership in Australia might explain the neglect of renters’ rights

In Australia, when we think of home, we think of ownership. This normalisation of home ownership is reflected in the “Great Australian Dream”, the belief that it’s the best way to achieve financial security. This “dream” is based on the premise that if you work hard you will one day be able to buy a home. Home ownership is an important goal for many Australians. Home ownership implies success. Linked to the importance of home ownership are our conceptions of home – what home means and the ways home can and should be made. Popular understandings of home suggest that feelings of home are most easily created between a house and the person who owns it. What is home? So ingrained is this relationship between home and ownership that in <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/gec3.12354">my recently published paper</a> I argue that research rarely considers the ways non-owners make and think about home. This is problematic, given recent housing trends. Recent changes in housing, particularly the increased cost of home ownership and <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861">curbing of public housing</a>, have created a greater demand for rental housing. As a result, there is an undersupply of privately rented housing in Australia. Australian tenancy laws add to the <a href="https://theconversation.com/the-insecurity-of-private-renters-how-do-they-manage-it-77324">insecurity of the private rental sector</a>. Tenancy laws and policy reflect cultural norms in Australia, where private renting is seen as a form of short-term, transitional housing. Recently, significant media and public <a href="https://theconversation.com/an-open-letter-on-rental-housing-reform-103825">attention</a> has been directed at the <a href="https://theconversation.com/life-as-an-older-renter-and-what-it-tells-us-about-the-urgent-need-for-tenancy-reform-103842">impact of state-based tenancy legislation</a>. It is argued that tenancy laws need to be changed to reflect current housing trends and the needs of many tenants to have long-term, secure housing. Rental insecurity is a persistent source of stress for many tenants. It’s a key reason that many tenants struggle to feel at home in their rental property. A person’s ability to identify feelings of home with their dwelling has been shown to impact <a href="https://www.tandfonline.com/doi/abs/10.1080/14036090120617?casa_token=norku4gEmtoAAAAA:VN2dQFxec3pdp9jtLzo6TrUmE3Us7oa_-mZq0wZRRwSTAep3DjdqdaCc_hFARNCALCZWta1jDQ83Nw">psychological health and overall well-being</a>. My research findings suggest that while tenancy law affects the ways we understand and make home, likewise, our meanings of home affect how we shape and understand tenure and policy. Australian tenancy law reflects broader cultural values that associate the meaning and making of home with home ownership. While researchers and policymakers focus on how tenancy law can negatively affect or restrict renters within their homes, the actual practices of home-making by renters are often overlooked. Current understandings of home typically reference what home means to home owners. My research points to the importance of understanding the ways private renters make home – and make home meaningful – so that any changes to tenancy law reflect the needs of tenants. Is having a home a right or a privilege? While there is no doubt that small changes are being made, perhaps the <a href="https://theconversation.com/dickensian-approach-to-residential-tenants-lingers-in-australian-law-65146">lack of consideration for tenants in tenancy laws and policy</a> is indicative of our larger beliefs about what it is to “feel” at home and make a home. The “Great Australian Dream” is based on the belief that hard work will eventually lead to home ownership. Yet owning a home is becoming impossible for many people, irrespective of how hard they work. If we understand home to be a basic right, then we will have policies that reflect this. If we understand home to be a privilege, reserved only for those who manage to achieve home ownership, then we will forever live in a country where tenure security and a feeling of being “home” are reserved for those who are able to buy a house. Consequently, our policies will continue to support the idea that, ultimately, a rental property cannot be “home” to a tenant. The question then remains: do we consider home a right or a privilege? This issue is at the very heart of Australia’s housing crisis. Until we change our meaning of home by separating it from ownership, we will never be able to “fix” Australia’s housing crisis. Written by Bronwyn Bate. Republished with permission of <a href="https://theconversation.com/ideas-of-home-and-ownership-in-australia-might-explain-the-neglect-of-renters-rights-104849">The Conversation</a>.

Home & Garden

"They're still going overseas and buying leather couches": Kochie and Sam hit out at millennials on home ownership

David Koch and Samantha Armytage have taken a dig at millennials, suggesting they do not need any help to buy their own houses. The two presenters hit out at young people during a discussion about whether it is harder to buy a first house now than in the past on Sunrise Tuesday morning. In the segment, where the hosts talked with social commentator Jane Caro and Seven broadcaster Ben Davis, Armytage questioned whether the Coalition’s first homebuyer relief policy is necessary. “I’m not sure about this assumption that all 20-year-olds need their own houses,” said Armytage. “I didn't own a house at 20. You’re kind of meant to be a little bit broke at 20 if you’re at uni or you’re working your first job.” Caro explained that growing HECS debts and high rents make it “much more expensive now to be a young person”. She said, “It takes 10 years to save [for a house deposit] whereas it took our generation six years.” Koch responded, “They’re still going overseas and buying leather couches.” Armytage agreed, saying, “When I was 20 to 24, I was broke and paying off a HECS debt and paying rent … I paid my student debt, and it took me to my 30s.” She added, “It worries me when I agree with Kochie.” According to the morning show, 43 per cent of Aussies aged 20 to 24 and 17 per cent of those aged 25 to 29 are still living at their parents’ home. “It’s no surprise that some people are voting for first homebuyer relief, part of the Coalition policy,” said Davis. “It is harder to get ahead, whether you’re in your 20s or 30s or even 40s.” Ahead of the federal election on Saturday, the Coalition and Labor have promised to help out 10,000 first home buyers by guaranteeing a 15 per cent loan deposit from the government, making it easier for prospective buyers to reach the usual minimum of 20 per cent deposit. In the Liberal campaign launch on Sunday, Prime Minister Scott Morrison said the program is not “free money” and that “they would still do all the normal checks on the borrowers to make sure they can meet their repayments”. Morrison told Channel Nine, “What I know is it will help first-home buyers into the market. Having to get only as little as a 5 per cent deposit rather than 20 per cent deposit, particularly for low- and middle-income earners, is a great assistance. “What it does is makes it that bit easier, ensures they can get into the market and once they do that they’re off and away.” Some commentators said the scheme would be <a href="https://www.abc.net.au/news/2019-05-13/federal-election-2019-morrison-government-labor-first-home-buyer/11105806">ease the financial burden</a> for many first-home buyers, while others were more wary that debt would grow due to <a href="https://www.theguardian.com/australia-news/2019/may/13/first-homebuyers-scheme-who-gets-it-and-will-it-work-explainer">bigger interest payments</a> over time.

These insider tips will help your adult children buy a property

The facts are many of us will need to help their kids get into the property market. Without that help, the maths doesn’t work and many of our adult children just may not be able to ever own a property. Family pledge and limited guarantees Another way of using the equity in your home to help the kids is by providing a limited guarantee or what is being called a family pledge. Your child may need say $60,000 to get them over the line especially if that amount was required to avoid the cost of mortgage insurance. Well, a family pledge, secured via mortgage (including a second mortgage) against the home which has ample equity in it, might just do the job. It may only need to be temporary because if the value of the properties rise, then you can have them revalued and have the pledge released, provided the new loan to value ratios are adequate. Joint borrower You could choose to jointly buy a property with them. It could be 50/50 or 60/40 or whatever percentage works for your situation. You are on title and you are jointly responsible for the loan. For them, owning 50% of something is better than owning 100% of nothing. You obviously are taking on the risk of the loan if your child fails to keep their end of the bargain, but there are varying degrees of risk within all these ideas and there is an assumed level of trust and reliability between parents and children for any of these strategies to work. Parental equity and cross collateralisation Cross Collateralisation is a mouthful, but it simply means using the equity in your home to support a loan that your kids could use to buy a property. It is not a gift or a loan, but really a guarantee or a promise that if your child doesn’t pay back the loan, you will take ultimate responsibility. You are ‘giving’ them your financial firepower or credit. Imagine that you have a $1m unencumbered home and your son, who has no deposit but a good income wants to buy his first home for $600,000. If the two assets are ‘crossed’, your son would be able to get the loan. Helping them get government help Unfortunately, Government support has been skewed towards new properties only, but it’s still better than nothing for some. The First Home Owner Grant, which has just been reduced to $10,000 in NSW (it was $15,000 last year) is available if your first property is a new one. You could choose to help the kids buy a new property to access the grant. There is also the First Home – New Home Scheme (again biased towards new property only) where the stamp duty is waived or reduced for properties up to $650,000 (in NSW). This can be quite significant as the stamp duty on a $550,000 property in NSW is about $20,000. Cash-flow contribution Instead of a capital contribution, you could choose to help with cash-flow and assist with the mortgage repayments (or part thereof) until their income reaches a point where they can comfortably pay the mortgage. So, how did the bank lend them the money if they are struggling to pay it back? Well, it happens more than you think. People over-extend themselves all the time and are able to find a bank that lends them more than they really should be borrowing. Helping them to compromise Too many people are struggling to make concessions to get into the market. If you have grown up in your parents’ home, near the city, near amenities, near the beaches etc. you might be finding it hard to make the necessary concessions to moving out and being an hour away from work. But that is the journey many will need to take if they want to get into the market. If a $1m property is simply not within your reach (with or without parents’ support) then you have to go looking at suburbs or property types that fit your (and your parents’) budget. Parents may need to make their support conditional on some compromise. The journey may begin in an area that is less than ideal, but you can then work your way up the ladder over time and get closer to the city or work and lifestyle. Renting and investing For a variety of reasons, your children may not want to buy a property to live in. Maybe they want to live close to you so you can stay in touch with the grandkids (and do the babysitting!) or they want the flexibility of being able move around with work or as their needs change. Financially, renting and not investing is a problem in an environment where asset prices keep rising. But renting and investing is a perfectly legitimate wealth creation strategy for many and compares favourably with more traditional home ownership. Helping them buy an investment property can be just as profound a step in the long run to their financial well-being. There is a variety of ways of doing this. What it really comes down to beyond capacity, is intent. Where there is a will, there is a way. Making any or a combination of these ideas work for you, requires customisation to your individual circumstances. There will be tax, legal and liability considerations for many of them and you would be well advised to first canvass the viability of an idea with a financial adviser. They are best suited to navigate you through the varied and interconnected areas of expertise that are required to solve this type of problem. Written by Frank Paul. Republished with permission of <a href="https://www.wyza.com.au/articles/money/investment/insider-financial-tips-to-help-your-adult-children-into-the-property-market.aspx">Wyza.com.au.</a>

Legal

How to help your children climb the property ladder

For all first-time home buyers, the process can be extremely difficult. Saving a deposit on even a modest income can be an uphill battle, not to mention the insecurity of property prices inflating and declining rapidly, which makes bank loan lending criteria even harder to obtain. Many parents may have every intention to help their children buy their first home in today’s unstable climate – but what is the best way to help financially? Co-ownership Considering becoming a co-owner in a property with your child may help protect your money and provide a little more ease of mind knowing you have shares in such an expensive investment. If you decide to co-own a home with your child, your name will be registered on the property title – meaning selling or mortgaging the home is not possible without your permission or knowledge. Co-ownership also allows you to trust that your money is in a secure investment as you can also share capital gains and even sign a Property Sharing Agreement with your child to flesh out who pays who, who gets to live in the home, what happens when property is sold and what happens if something goes wrong. Loaning money If you are in a position to lend money to your child in order to purchase a home, then this might be a method that works well for you and your family by lending money towards a deposit. However, jumping straight into it is a risky decision. Consider a properly documented loan agreement which outlines regular repayment schedules and the longevity of the loan term. Is there interest your child must pay – if so, how much? Will the interest rate vary? If you have more than one child, will your generosity be lent to them also? However, a bank may not be so willing to loan money to your child as they might ask for proof of equity in the property. A loan from a parent is just another debt to be repaid, not equity. A bank might also need a commitment they will not have to compete with your child for loan repayments – before committing to lending your child repayments, consider how long you are willing to wait for your money to return to you and if you can financially survive without it until you get it back. Gifting money Many parents are willing to give away their money to their children – as they might have done for their whole parenting lives. However, gifting your children money may have repercussions for your retirement future. Consider how this may impact you. Will you have to work years longer if you gift money to your child? Are you financially able to relax after gifting money for a loan deposit? It is also important to keep in mind banks do not take kindly to misleading statements – if you plan on loaning money to your child but say it is a gift, there may be serious repercussions for both yourself and your family. Guarantee Your child may ask for a guarantee on their bank debt meaning your position will not be much different from that of the loan borrower. In the case of a default, the bank may come after you before your child. A bank may require you put your own home up as a security for the guarantee, which may result in you losing your own home to repay your child’s debt. Consider how much exposure you are willing to commit to before taking a leap. Perhaps ensure your guarantee is limited to the absolute minimum the bank will allow and ensure you obtain independent legal advice. If you are considering any of the options above to assist your child in purchasing their first home, seek out legal consultation to ensure your options are thoroughly explained. Have you helped a child out with their first home purchase? Let us know in the comments below.

Legal

7 reasons not to throw away laddered stockings

If you’ve got a pair of stockings that are laddered or just not your colour, don’t throw them away. There are so many uses for stockings that you may not have known about. 1. Look after your pumpkins If you’re growing heavy vegetables like watermelon or pumpkin the weight of them can end up pulling the whole plant over. Once they start to grow, wrap them in a stocking and secure this to a stake next to the plant to give them some support. 2. Check your sanding If you are sanding down some wooden furniture, you can check the smoothness using a stocking placed over your hand. 3. Make a soap scrubber If you’ve got a few broken pieces of soap, or that last slither of the bar, pop it all inside the toe of a stocking. Keep it in the laundry and use it to scrub stained clothing before you wash it. 4. Locate an earring Lost the back of your earring or the tiny screw from your glasses? Just pop a stocking over your vacuum cleaner and keep it in place with an elastic band. Then you can just vacuum in the area where you think it might be and you’ll soon have your little object stuck to the outside of the stocking. 5. Keep your pet’s brush clean If your pet tends to shed their fur when you brush them, try this tip. Cut out a rectangle of stocking and push down firmly over the top of the pet brush until the bristles come through. Then after brushing you can simply remove the (fur covered) stocking and discard. 6. Keep onions fresher If you often find your onions have gone bad before you got to use them all, it could be to do with the way they are stored. Try storing them in the leg of a stocking, with a knot between each. This allows air to circulate which means less mould on your veggies. Just cut the bottom onion off when you want to use it. 7. Store your spare doona If you have a big pile of quilts and blankets to pack away, secure them with a pair of stockings. This will make the pile more manageable and you won’t end up in a mess with blankets falling out of the linen cupboard. Have you got any clever uses for stockings that you would like to share? Related links: <a href="http://www.oversixty.co.nz/lifestyle/home-garden/2017/01/uses-for-used-tea-bags/">8 surprising uses for used tea bags</a> <a href="http://www.oversixty.co.nz/lifestyle/home-garden/2015/11/ways-to-use-hairspray-at-home/">10 surprising ways to use hairspray at home</a> <a href="http://www.oversixty.co.nz/lifestyle/home-garden/2014/11/make-christmas-">How to make a Christmas stocking in 10 minutes</a>

Beauty & Style

Some of New Zealand's most beautiful views are being sold to private hands

Some of New Zealand's most iconic landscapes are being placed into private ownership, leaving locals fearful they will lose their unique surroundings. Irishman Creek is one of several high country stations in the Mackenzie Basin undergoing a tenure review by Land Information New Zealand (Linz).The station's golden tussock hills provide sweeping views of Aoraki/Mt Cook along an 8 kilometre stretch of the state highway. It is a landscape regularly depicted in postcards and paintings, and the view has been used for tourism promotion.A Linz proposal last year recommended placing 5800 hectares of the station – more than half its total area – into freehold, opening it up to private development. Other sections would remain with the Crown for conservation purposes. Irishman Creek is one of five stations in the basin – altogether comprising about 31,000ha of land – in the process of being placed into freehold.Any land given through freehold is subject to Crown covenants, but opponents say they are not enough to protect the ecosystem from eventually being developed for irrigation or subdivision.Local environmental groups said they were stunned by the scope of proposed freeholding in the Mackenzie Basin."We find it really disappointing such important and vulnerable landscapes are being freeholded ," Forest & Bird field officer Jen Miller said. "These are rare ecosystems. They can't be replicated or restored once you have cultivated them."She said the increasing privatisation of the Mackenzie high country was putting a delicate environment under threat, and could visually alter the landscape. The basin is home to more than 60 rare and threatened plant species and to the critically endangered black stilt and the bendy beaked wrybill.High country farmers have disputed claims they are profiting from freehold land obtained under tenure review. Farmers at nearby Haldon and Maryburn stations, which were partly obtained under freehold, said district rules prevented them from developing the land to the extent opponents feared, although Haldon Station manager Paddy Boyd said he was farming more intensively than before.Jan Finlayson, former chairwoman of the Canterbury Aoraki Conservation Board, said the ratio of land being privately sold to land being retained for the public was unusual. The tenure review process was putting vulnerable land at risk, and the covenants were not enough to protect the land in the long term, she said."We're very fortunate to have the Mackenzie as it is, so for the sake of a few private interests we're losing a vast public resource."A Linz spokesman said he could not comment on Irishman Creek because the proposal was still being developed, but all tenure reviews were required to protect the land's significant natural values. Linz figures show since 2011 it had sold land valued at $154 million into freehold and retained land valued at $34m for conservation. Irishman Creek manager Evan Gibson declined to comment.Written by Charlie Mitchell. First appeared on <a href="http://www.stuff.co.nz" target="_blank">Stuff.co.nz</a> Related links:<a href="http://www.oversixty.co.nz/news/news/2015/10/restored-steam-engine-to-depart-from-picton/">Rail tour picks up steam after tow start</a><a href="http://www.oversixty.co.nz/news/news/2015/10/pet-lamb-brought-back-to-life-twice/">Pooky the lamb dies twice and survives</a><a href="http://www.oversixty.co.nz/news/news/2015/10/kiwi-tom-cat-found-in-brisbane-australia/">Owner of lost trans-Tasman cat located in Hong Kong</a>

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Some of New Zealand's most beautiful views are being sold to private hands

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Some of New Zealand's most beautiful views are being sold to private hands

Some of New Zealand's most beautiful views are being sold to private hands

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