Just to set the record straight, I’m the first one to admit I love a latte and that I get mildly excited at the notion that I can have the odd business meeting in the comfort of my local café.
So with my confession out of the way I hope you’ll now forgive me for sounding like a party pooper – but in Australia’s rush to culturally embrace a cosmopolitan café society, we’ve ignored the fact that the Europeans who were responsible for much of this influence, can more readily afford their style of entertaining, simply because they don’t share our philosophy and love affair with property ownership.
And therein lays a stumbling block for some.
As Australians, some of us are trying to have our cake and eat it too – whereas in Europe the burning desire to have the same dream as us of owning their own home is not always so critical – and certainly not when the café culture is such an ingrained part of their laid back lifestyle.
The point is, over the last twenty of so years we’ve adopted many elements of a European lifestyle, becoming a nation of coffee drinkers, café dwellers and al fresco diners. And this European influence of eating and drinking – whether it’s conscious or subconscious, has perhaps come at a price for some first time property buyers.
That’s because our desire to indulge in that daily coffee, lunch or regular dinner eats into our disposable income and can be a thorn in our side when it comes to trying to balance that enjoyment with the financial demands of managing a mortgage, so we can have a home of our own.
Only this week, figures on household spending were released which showed that although interest rates may have risen, it hasn’t significantly affected our desire to get out and have a coffee and a bite to eat. It was also reported that patronage at restaurants and cafes was up 106% for the month of July.
And interestingly, some sectors of the retail industry didn’t enjoy as much growth as they hoped during the same period, so it seems clear we’re cutting back on some areas, but not giving up our love of the latte and the café.
The point is, we’ve changed our lifestyle attitudes and habits over the last twenty years, showing there’s no doubt our style of entertaining has diversified markedly from that of our parents generation.
And it’s something we need to be conscious of so we can continue to celebrate what our country offers, but still work towards the great Australian dream. Now there’s some food for thought!
Tags: affordability, Budget, First Home Buyers
Sometimes its a tough choice between enjoying a nice meal or coffee out with a friend and saving $10 or $20. Guess it depends on what is more important to you.