"My ECON 101 taught me about supply and demand"
well, the cost of housing is due to the high speculative price of the land houses sit on
so - since Oz does have heaps of land - then, is the supply and demand idea working at all??
ok fair enough - developed land ------------ but, if it's the case that you could sell developed land like hot cakes - then, why isn't everyone a developer?
there's land everywhere ----------
the supply demand idea breaks down in Oz because of a myriad of issues - one of which is the way things are valued ------
banks have a vastly different idea of valuing things
that alone slides things sideways
Aussies value things rather differently - one can see it in how we have the biggest personal debt on planet earth - yet - people seem comfortable with that
like covid gave us a start - I suggest having the biggest credit card on the planet will one day bite very hard on the arse
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- Can we just simply build more houses / units to slow down the house price madness !!!
"My ECON 101 taught me about supply and demand" well, the cost...
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