Editorial - Saturday, June 27: Homer is where the heart is
ONE of my favourite quotes from an early episode of The Simpsons comes after Marge asks Homer if he remembers his promise to the kids.
The response "when you're 18 you're out the door" still makes me laugh heartily but Homer's dream seems to be a long way from current reality.
About one in four adults aged between 20 and 34 are still living with their parents.
The most recent detailed Australian Bureau of Statistics breakdowns show 35% of 20 to 24 year-olds have "failed to launch".
When my youngest turns 18, I'll be living Homer Simpson's dream at the age of 55.
I'm pretty sure the boy won't be moving out after buying a house at age 18. But living on the Coffs Coast, I'm confident he'll be able to get into the property market earlier than he would if he was living in Sydney.
The typical Sydney home is now selling for 10 times the median annual income.
In the past two years, 38 properties on the Coffs Coast have sold for a pricetag of more than $1 million.
There's plenty of good homes you can buy here for cheaper than a one-bedroom flat in Sydney.
So it's not as if our local kids need to be millionaires before they can realise the great Australian dream of owning a home.