I think it was the reserve bank governor who made comments during the week about resentment from younger generations towards baby boomers and their real estate fortunes. I cannot understand these comments as for any market there needs to be a buyer as well as a seller, if younger generations are less affluent than the baby boomers surely this will mean that baby boomers will have to accept lower prices when they eventually sell their real estate to move into other better performing asset classes. Talk of senate enquiries into the affordability of housing will be just another waste of Tax Payers money in the end the market will correct and housing will become affordable again, trouble is there will be no more life style programs and hence it won't be the done thing to buy real estate. Boom Bust.
