Fair point, but ... Its not the ownership levels, its who owns it (or who is buying it) that has changed and for the worse in my view. Don't remember many headlines about an "affordability crisis" over the period you are suggesting. The fact remains, house prices relative to incomes are at alarming levels and can't be sustained. Its at a point where entrants now at 11 to 12 times income may never end up owning the place in their working lifetimes with wages growth moderating the way it is.
Think about it. The amount of stimulus that has been pumped into resi property like neg gearing, foreign investment, low interest rates, tax breaks on CGT etc has made it a great investment in the past, but as an "investor" shouldn't you be looking forwards? All I can see in the future is the political pendulum swinging hard left to open up affordability because we are slowly watching a new generation being forced to live a long way from jobs. It just doesn't work. A generation of workers unable to afford their own place, but renting so far away from where they work that they are deprived of a work / life balance is not great for our country.
Politicians are getting a sniff that this might be the sort of visionary shift the electorates are waiting for, be interested to see where it goes from here but watch this space is my tip.
