My profound apologies to Moondoong for making a success of property and listed Australian property trusts and passing on my experiences so other HC members could benefit, if they chose to, and crunched numbers relating to the magic of inflation:
Canberra 1974: Our first house in Canberra. It cost $4500 for the land and $19,500 for a builder to erect a small house on it:
1985: We sold that house for $80,000 and (my apologies, the builder was Croatian not a lazy Dinkum Aussie) and we paid him $112,000 for a bigger house as babies had begun to arrive: Mum, Bub and Peter Tomjanovic:
2004: We added a Student Extension. My apologies. The builder came from Vietnam when PM Fraser opened the gates to thousands of Boat People. The extension cost us $100,000 plus another $30,000 for carpet furniture, air-conditioning, etc...
The magic of inflation outcome: House + Extension: $650,000 if we chose to sell it today.
At the same time, we'd been saving like lunatics to invest (across the ACT/NSW border) in a partly finished Townhouse. My apologies, the builder was German not a lazybones Dinkum Aussie. And also a rental flat in Queanbeyan plus we invested in a listed property trust. My apologies, the Chairman is a Jew.
Like it or not, Australia is not White. Nor will harsh laws make it White. Like the Rainbow Serpent of the Aboriginal people Australia has people of many colours. We're a diverse multicultural nation:
