The article is about a few different things but its interesting...

The article is about a few different things but its interesting to note that allot of people houses from melbourne where i live have reached the million dollar club. Allot of suburbs.

A few people i spoke to last month who paid the house off over 10 years now are millionaires persay however the million dollar property club in melbourne refers to price of house not equity.

If you want to see how much equity there is in average peoples houses going to abs.gov.au should give half a decent demographic split. There are many reasons people buy property, my relatives bought a commercial property 10 years ago because the interest was only 20% more at the time than the rent they were paying.

Now 10 years later, it's worth 1 million more than paid. Sure who knows what the price will be later on, however if we sell now, in a year or in 5 years, im sure the investment was a good choice $$$.

Property is not for everyone, and if people really hate it that much then don't do it. I think these days we all have to make money where we can. I also work full time and also trade shares apart from my property investments to make money. If you don't like property then find other means to get by and have a good life :)

Peace out.