It's classic watching some of the bulls attempting to bag the obvious statistics, the graphs that speak for themselves.
From that article:
Sydney houses now cost 12 times the annual income, up from four times when Gough Whitlam was dismissed.
As many first time buyers turn to the bank of mum and dad to top up their deposits, a new report "Parental guidance not recommended" warns Australians are being caught up in a classic "Ponzi scheme".
The report by economic consultancy LF Economics – which has previously sensationally warned of a "bloodbath" when Sydney's property bubble bursts – estimates it will now take the average first time buyer in Sydney nine years to save a deposit, up from three years in 1975.
My comment: Love that bit "Parental guidance not recommended."
