Where on earth are you getting these figures from?
I have no idea how many are on the pension, but 90% no way. And only 10% own all of the property?
Sorry, but this is ludicrous, you appear to be plucking figures out of the air to make an invalid point. I do personally know of some people, who have deliberately given money to their kids, squandered heaps on cruises etc so they qualify for the pension. Also many who move into a multi million dollar house to do the same as their principal place of residence is not counted in their assets, also others with over $3M in super, the government are at least addressing this.
I think this is wrong. Pensions should be for the genuinely needy.
No I do not think that home ownership falling is a good trend. But a lot of it is self inflicted. I agree that the ratio of earnings to house prices has become badly distorted. There are many reasons for this.
One is that a lot of land released, is by the government. The blocks are getting smaller all of the time. They are pushing the prices of land up and the land is the component which holds value, rather than the cheap Gerry built houses.
Stamp duty is ridiculously expensive. There is an opportunity for people to buy some land first, pay no stamp duty and build when their circumstances have improved. But you lot don't agree with people holding land either.
As for your last paragraph, we live in a democratic society, supposedly a free market economy. If this does not suit you, then it sounds as if a communist country would. You will own nothing and you will be happy! But of course, some are more equal than others.........
Here is a thought for you, do you think a supermarket worker and a brain surgeon should receive the same pay?
