With house prices at 9 time income now how the hell do they think that property is going to double in the next ten years it has not done this i the time white people have been in Australia. Next there is 30% 3 million people of the work force retiring in the next ten years and two years after they retire 50% divorce . They will not live in the same house so were do you get all these buyers . Next only 180 000 have assets of over 1 Million Dollars and at this point in time there are over 800 000 homes worth more than a Million dollars so fig that out . You must understand that at 5 times income you are working flat out just to pay the interest and at 7 times income you can not pay the interest . Ask the first home buyers from the last 18 months as 50% are in stress and living on credit card from week to week. A house is a liabilty and not a asset as you have to pay money for the general running of the house so you need a good income to do this. If you like you can look up anything in this blog from the department of statistics. Regards Dennis
