In 1966, at the end of the Menzies government, Australian home ownership sat at about 70 per cent.This number is now closer to 50 per cent and continues to slide.The great Australian dream of home ownership is currently not a reality, particularly for our east coast cities, which are rated as being in the top 20 least affordable cities in the world."
It is obvious that during Menzies era home ownership was taken as a safeguard against something and I am left wondering what that could have been?
Maybe this: "the 'great Australian dream' of home ownership was promoted during the 1950s and 60s as a protection against the growth of communism. The reasoning was that people who were committed to home ownership and mortgages tended not to become 'revolutionaries'."
