In these times of recession, rising unemployment etc it is all but becoming harder for people to buy there first home even though house prices have dropped there are reason's it is still unattainable for alot of people.

If you ever find yourself in a debate with a babyboomer who reckons you blow all your money on cafe-lattes, about the overpriced property market and all of the inequities that lie within it, You can chuck a few of these arguments at em. (As for the latte argument that is an easy answer, House prices are still far to high in most metropolitan areas and you figure that you cant afford to buy a house so might as well throw away your money on coffee)

1. There is a common joke among people paying off their mortgage, that high mortgages are the new contraceptive! But it is really becoming no laughing matter. Back in the day most Young women used to be Scared of getting knocked up, now, as they approach 40, they are afraid of not getting Knocked up. What is needed is to get back to the situation where a couple are able to pay off their mortgage on just the one income so they can start their family in their late 20's and not in their mid to late 30's and 40's, Not to mention the potential medical risks of having a child so late.

2. It used to be that house prices never really exceeded three time the annual household income. Most modern western countries are grossly over inflated ranging in the vicinity of anywhere between 5-8 times the annual household income. And this takes into account 2 working partners if it were just 1 partner these figure would be even higher between 7-10 times income. It falls onto responsible and ethical private and public organisations to stop using technically unsound mixed measures, that generate alot of bogus numbers to try to entice the unwary buyer into a market that is inflated with excessive unneccesary debt attached to it.

3.Investors annual rents have typically been 7-9 percent where I come from, and these follow similar paterns around the globe. Currently they are sitting at under four percent. Most landlords have been taking huge losses for the last four years and it might only get worse.

4. Generally home owners have better health, they move less frequently, therefore their children do better in school, they are generally more involved with their communities. In communities where home ownership is high, generally crime is lower the average household income is higher and divorce rates can be lower.

5. The house price escalation boom has led to the concentration of home ownership into the hands of the old at the expense of the young. There is huge inequity between the generations and this will only be fully realised over time, how long this will take well only time will tell.

6. In most countries there is a so-called "Land Shortage" this is purely a matter of political decision's, It is not a geographical reality in 'most' situations and places.

7.The people to feel the most sorry for, are the first home buyers who get bankrupted when the housing bubble bursts when they stretched themselves to the limit to get on the home ownership train. In most cases they were set up weather it be social or politically. Most of these people deserve a government bailout. While the Investor class takes a nice cold deep bath.

8. People talk about land shortage and building costs etc, but they seem to miss the point and that is that house price appreciation over the last decade or so has mainly been driven by the growth of the credit market. BUT! now that is pretty much gone and it wont be coming back in a hurry.

9. The market is now starting to become flooded with properties that desparate owners are trying to flog off. this has resulted in an oversupply of rental property This has left alot of homeowners frustrated as they are unable to sell due to the dry up of the mortgage finance market.