UT it costs 5 times more in inflation adjusted terms for me to buy the house my parents bought 35 years ago.
IMO Australia has the biggest bubble in property the world has ever seen.
The government has aided and abetted this debacle. It is not productive or useful for a country to waste so much in housing, when we can't even build a decent 2 lane highway between Sydney and Brisbane, and have long wait times for surgery.
The priorities in this country are way the hell off - government should not be subsidising speculative investment in housing.
Why, for example, don't we have negative gearing in roads, schools, hospitals or research and development - things that will grow the wealth of this country for posterity? Because over time a culture of entitlement to negative gearing, FH grants etc has built up and it is very very sad, and when the bubble bursts as they all inevitably do, it will hurt a lot of people who had just come to believe it is the Australian way to pay 60+% of your income for a hovel.
