Loading
Australian Catholics to build affordable housing for mortgage crunch

.- In an effort to alleviate housing problems in the Australian southeast state of Victoria, Catholic and other church charities are seeking approval to become developers and operate housing associations, The Age reports.

The charities say that they want to use prime real estate that they own to develop affordable rental homes for the needy.  Up to 300,000 Australians are at risk of losing their homes this year by defaulting on their mortgages.  750,000 households are estimated to struggle to pay food and essential service bills.

Martin North, an analyst with Fujitsu Consulting, linked the housing problems to an expected interest rate increase at the Reserve Bank of Australia.

"This is a problem that is now hitting middle Australia … Rates will go up by another 0.5% to 1% over the year, so people who are in an already fragile position are going to be hard-hit," he said, according to The Age.

The Catholic-affiliated St. Vincent de Paul Society, Unity church-associated UnitingCare Victoria, and the Salvation Army want to develop land owned by their churches, including city properties and large tracts of land.  The St. Vincent de Paul Society has land and property in Victoria worth at least $57 million, and hopes to partner with the Catholic Church in Victoria and others to acquire surplus property for development.


Ads by AdsLiveMedia(What's this?)

* The number of messages that can be online is limited. CNA reserves the right to edit messages for content and tone. Comments and opinions expressed by users do not necessarily reflect the opinions or beliefs of CNA. CNA will not publish comments with abusive language, insults or links to other pages

RESOURCES »

Ads by Google (What's this?)

Featured Videos

Pilgrimage from Czech Republic to Assisi and Rome for intentions
Pilgrimage from Czech Republic to Assisi and Rome for intentions
Testimony of young Indian who met Pope in Korea
Preparations of the Closing Mass of 6th Asian Youth Day
Missionary of Charity, Korea
Testimony of Christian Love during Pope's Visit to Korea
Religious Sisters in South Korea react to Pope Francis kissing a baby
Warm atmosphere during Holy Mass at Daejeon World Cup Stadium
Images inside Pope Francis flight to South Korea
The tombs of the early Christians
Missionaries of Africa, called "the White Fathers"
Italian youth give testimony after mission to Peru
Interview with Iraqi Ambassador to the Holy See on the persecution of Christians
New book 'The Vatican unknown'
A Look at India from Rome
3D Church mapping
#PAUSEforPeace Initiative
Dedicating art to San Juan de la Cruz
A state without territory elects new government
The renewal of the Legionaries of Christ
Presentation of the book "The Pastor"
Aug
22

Liturgical Calendar

August 22, 2014

The Queenship of the Blessed Virgin Mary

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Mt 22:34-40

Gospel
Date
08/22/14
08/19/14
08/18/14

Daily Readings


First Reading:: Ezek 37: 1-14
Gospel:: Mt 22: 34-40

Saint of the Day

Queenship of Mary »

Saint
Date
08/19/14

Homily of the Day

Mt 22:34-40

Homily
Date
08/22/14
08/19/14
08/18/14

Ads by AdsLiveMedia.com

Ads by AdsLiveMedia.com
     HTML
Text only
Headlines
  

Follow us: