Community | November 03, 2010 | 16 comments

Rural towns' cheap answer to mortgage stress - dollar a week rent

source: http://www.news.com.au/money/property/rural-towns-cheap-answer-to-mortgage-stress-dollar-a-w...

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eden49
TINY country towns offering dirt cheap rentals at just $1 a week could be the answer for those suffering from the latest interest rate rise.

The New South Wales townships of Trundle in the Central West and Rugby in the southwest have joined those hoping to entice cash-strapped city slickers.

Many families have already swapped suburbia for the bush in the $1-a-week rent-a-farmhouse phenomena which has swept across the state in the past two years.

The stress of interest rates, mortgages and the high cost of groceries had pushed families to move to towns - some which have populations as low as 50 people - because they offer a cheaper lifestyle and a supportive community in which to raise children.

Nicole and Matthew Mercer, who moved to Cumnock in the state's Central West with their six children two years ago to reduce their living bills, said yesterday it was the best move they had ever made.

"People need to realise there are so many options out there," Mrs Mercer said.

The family traded a six-bedroom suburban home in Melbourne for a three-bedroom farmhouse on acres of land.

The $1 rent scheme was started by Cumnock resident Christine Weston two years ago to help save her drought-stricken town from economic disaster, to boost school numbers and revive the town's shopping strip.

Since then the project has expanded to 14 towns offering $1 rents, including Greenthorpe and Tallimba in the Central West; Ilford and Tottenham in the northwest and Warialda, just south of the Queensland border.

"I never thought it would blow out like this and become so popular," she said.

Cherie Quade, the driving force behind Trundle Tree Change, said with interest rate rises and the skyrocketing price of living, paying $1 for rent was nothing.

"Cost of living has got quite hard in the city and a farmhouse for $1 a week is a viable option for families wanting to get ahead," she said.

Trundle (population 350) has six houses on offer for $1.
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    Community,   Greatest Depression,   out-there,   australia
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16 comments // Rural towns' cheap answer to mortgage stress - dollar a week rent

  • artemis6
  • VoyagerFilms
    • +3
      VoyagerFilms  

    • Wow. Couldn't happen here in the US because it's completely counter to corporate profit making and some would say socialist - there for a bad, bad thing. Better to let families struggle

    • 1 year ago
  • Gravity_Man
  • Gravity_Man
  • Gravity_Man
    • -1
      Gravity_Man  

    • What an incredibly DUMB IDEA. What an incredibly DUMB IDEA. What an incredibly DUMB IDEA. What an incredibly DUMB IDEA. What an incredibly DUMB IDEA. What an incredibly DUMB IDEA. What an incredibly DUMB IDEA.

      For America.

    • 1 year ago
  • Gravity_Man
  • eden49
  • Gravity_Man
  • Incredulous
  • Incredulous
  • Gravity_Man
    • 0
      Gravity_Man  
    • Incredulous:

      And? What happens next? I follow Patrick Swayze and get ta see even better Patrick Swayze movies? Leaving me here is a much worse fate. Poordom with all the rest of ya great & mighty Americans.

      They aren't interested in doing me any favors. You poor poisoned herd of sheeple wouldn't know a real engine from a donkey's hind end, and they know it. They always knew it. hahaha They fixed it so you would all fear a real shepherd.

      That's the mentality you're up against & you're toast, no butter, just dry hard toast. No jelly, no apple preserves, just hard dry. No 4 fried chickens either.

      You just got passed by AUSTRALIA. hahahaha
      You just got passed by AUSTRALIA. hahahaha
      You just got passed by AUSTRALIA. hahahaha
      You just got passed by AUSTRALIA. hahahaha

    • 1 year ago
  • ahiguy
    • +2
      ahiguy  

    • Keep prompting me Eden to get off my lazy ass and get My Visa & immigration papers to go to the Aussie land of the 'sweet down under'... I've heard the 'siren' call... and, I, I, I'm coming darling, I'm coming!.. Ah.!.. I feel so much better now, and you?... no, no don't tell me, let me remain humble, and not humiliated, okay... please!

    • 1 year ago
  • eden49
  • ii386
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