What has the size of housing got to do with things, when old fibro shacks will still attract great prices (as a 'renovators delight').
You can't have it both ways. Either property has boomed and been very lucrative in the past decade, thus making it unaffordable (relatively speaking) - or it hasn't boomed, and investors haven't actually made record profits. It's a zero sum game, when someone makes money off a passive asset, it's at the expense of someone else. You cannot have a boom in a 3-4 trillion dollar market, and not expect it to impact affordability elsewhere.
Warnie, of all those things you mentioned, we're probably worse off today than a decade ago. Yet prices boomed. Maybe there's an inverse relationship?
