The simple fact is that worrying about things makes the whole situation worse. Psychologists agree that it is the stress caused by the worry which damages your health rather than the thing you are worrying about. Money worries are rife right now during this global pandemic. Trying to get ahead or not fall behind in the current climate is generating anxiety within our communities. Financial anxiety: So severe if you can’t get a home loan to position you in the economic winner’s circle. The noose is tightening in the minds of many, and they sense that time might be running out.

Rapidly Rising Property Prices in Australia

Of course, these are subjective feelings and not hard facts. The economic data may well be showing rapidly rising property prices around Australia. The perfect storm of sustained record low interest rates on borrowing money and repeated lockdowns in Melbourne, Sydney, and the other capital cities to a lesser extent, continue to stimulate the market. My advice is to seek out financial advice from people who have empathy. There are more options available than you might think than the big four banks and all their offshoots.

Housing Boom Fed By Insecurity & The Pandemic

The strange thing is that you can feel financial anxiety even when you have substantial funds in the bank and plenty of material possessions. This is because everything is relative and sometimes people have a sense that it is never enough in comparison with others. Worry is a predilection which does not always follow rational grounds. In this time of viral concerns with people dying from Covid and this being always in the news it is natural to see more fear. Life is like snakes and ladders in the view of some folk and things seem precarious like never before .Human beings are seeing trouble around the corner rather than opportunity right now. The housing boom is being fed in part by individuals wishing to sure up their security via property ownership and investment.

Renters are being squeezed and Australia provides little equitable status for renters in comparison to homeowners. Australia is a country which has inflated property prices and a market driven by 55% more mortgages taken out in 2021 than in the previous 12 months, according to the Australian Bureau of Statistics data. Wealthier Australians cannot indulge in overseas travel, because the borders are closed due to Covid, and are, therefore, investing in more property. Those in the market are thriving enormously and those outside are gnashing their teeth in frustration and anxiety at being unable to afford to get in.