Australians turn to caravans in crisis ? Campervan insurance

Posted :30-09-2008

More and more residents in Australia are looking for caravan homes in difficult times as they try to save money, it has been reported.

While caravan parks used to home those in desperate situations, more people are turning to caravans to ease financial worries, the Sydney Morning Herald reports.

Holders of campervan insurance may already know the benefits of living in a caravan and the newspaper reports the parks are becoming more upmarket.

Tom Dixon, who rents a caravan in a park, told the newspaper: "The place is always full. If someone leaves then another person moves in straight away."

Chris Martin, a policy officer for the New South Wales Tenants Union, said the desperation for some seeking a place to live went right up the line.

He said people defaulting on mortgage payments could apply for public housing but there are about 50,000 people on the waiting list.

Bloomberg reported today that Australian home-buyers are borrowing at the slowest rate in 22 years and house building approvals fell for a second month.

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