Also to blame imo is the meteoric increase in wages...disproportionate increases. Driven by the trade unions.
Taking nothing away from a hard working tradie...but hourly rates of $110.00 for a plumber or electrician?
That along with new housing copping a 10% tax across the board on labour, and on to many materials that had no tax previously.
Even a half decent house in a country town will cost you upward of $450k.
All this is totally unsustainable...but the Banks here have no choice but to feed the Ponzi scheme and keep it going to keep the returns up to the shareholders.
