Fed; Property boom demolishes cheap housing stocks
A charity organisation report says the property market boom has widened the gap betweenAustralia's haves and have-nots.
The Brotherhood of St Laurence says rising property prices have made affordable houseshard to find for those on lower incomes or pensions.
It says this is leading to an increase in so-called housing stress, and the need tosacrifice basic necessities just to survive.
Households are suffering from housing stress if more than 30 per cent of their incomegoes towards paying rent or a mortgage and that income is in the lowest 40 per cent.
Researcher SALLY JOPE says people are going without food, clothing and health careto keep a roof over their heads.
AAP RTV ra/gfr/wz/rp
KEYWORD: HOUSING (MELBOURNE)