brisbane property, page-11

Damien

I hope you enjoyed your little trip down memory lane there and you are correct to some degree re prices

let me give you a few examples though

In the early to mid 80's I got promoted to a good paying position $35K, a lot of money at the time for someone my age was also a bit under the average price of a house in perth. A similar position to the one I had then would if you were real lucky pay $150K

Average Perth house today $460K

In the late 80's I took out a life insurance policy as part of a super fund, just $50K insurace, just wanted to make sure my mother was not caught with funeral expenses or paying out any samll loans I had at the time if something should happen. $50K was also at the time what my mothers house was approximately worth. The $50K was indexed and increased each year, when we sold my mothers house in the late 90's it was sold for about $140K and the policy was worth about $110. I cancelled the policy 2 years ago and it was then worth $150K, the house that was once my mothers was on the market for $500K.

Of course houses are more expensive along with just about every thing else than they were 10 -15 - 20 years ago. THAT IS NOT WHAT MAKES PROPERTY AND EXPENSIVE NOW.

What makes prpoerty expensive and over priced now is the massive artifucially manufactored increase compared to most other things and wages in other words peoples ability to pay for the house

The average price of property has gone from being around 3 times the average wage 10-15 years ago to over 8 times the average wage now