House prices: Even the head of the Treasury is becoming a 'Mum and Dad bank'

By Peter Martin
Updated October 19 2016 - 9:18pm, first published 12:17pm
"I talk with people my age, and the Bank of Mum and Dad is becoming more and more prevalent": Treasury secretary John Fraser Photo: Andrew Meares
"I talk with people my age, and the Bank of Mum and Dad is becoming more and more prevalent": Treasury secretary John Fraser Photo: Andrew Meares
The latest CoreLogic index shows Sydney house prices have climbed 11 per cent over the past year, and Melbourne prices 9 per cent. Photo: James Alcock
The latest CoreLogic index shows Sydney house prices have climbed 11 per cent over the past year, and Melbourne prices 9 per cent. Photo: James Alcock

So concerned is the head of the Treasury about the cost of housing, he says he is having to help out his own son, and that parents like him are endangering their superannuation.

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