Maybe i am wrong, but lot of people on this forum say housing...

Maybe i am wrong, but lot of people on this forum say housing has gone up forever and doubles every 10 years.

lets explore..

average income $65K
average Melbourne price $480K
1 house = 7.3 years wages

so that would mean going backwards

2010 = 7.3 years wages
2000 = 3.65 years wages (that sounds right)
1990 = 1.8 years wages ?
1980 = 10 months wages ???
1970 = 5 months wages !?!?!?!?!?

i think i am doing this wrong can somone help me?


lets try forwards.....

In 10 years = 14.6 years wages
In 20 years = 29.2 years wages

now i could be wrong but to buy a house with the value of 7 years wages takes 25 year morgage to pay it off.. (over 3x)

does that mean in 20 years people entering the housing market will need to take out a 100 year mortgage?

guess that means retirment then at 120 years of age!