Jantimot, you father is of a different generation. There are statistics showing the historical cost of housing as a ratio to average wages.
I was not being "defeatist". I was simply pointing out it is tougher today to makes ends meet for the average person than it previously was.
And it is not the average person who has driven property prices to where they are. It was Howard govt introducing the 50% CGT discount & lack of law restricting foreign investment in the housing sector.
It is speculators rather than the average person. Worse, many average persons are stuck with a poorly performing investment property or made large losses on them, setting them back further.
Even the editor of the Financial Review, prior to the GFC, asserted the greatest failing of the Howard govt was introducing the 50% CGT discount, resulting in a speculative housing market.
In summary, raising the retirement age shows something is not right.
