OMG, do you read my posts? "The number quoted previously was the ABS's definition of the average of those they considered of "middle wealth". That's the median wealth people, right?"
NO, not right, not even close to being right.
The average wealth of people that the ABS consider middle wealth is not the median wealth of the country. NO, not right.
The median wealth of the country is exactly that. No other calculation is the same.
"So a person with savings of $150k, and that's all their wealth.. .they could only buy a $150k property? Where?"
Of course not, did I say that?
"If they have that saving in cash, also have a respectable job... the bank would lend them to buy that $650k apartment.
One of the good thing about property is that a buyer can leverage their income [and assets] like that"
Wow, thanks for the lesson. Who knew you could do that...
You say I missed a lot and yet you still can't rebut my premise....
Because you can't, and are not interested in understanding it. You have your theory and are closed minded about anyone else's.
