I think Aus will remain high based on sovereign stability of investment dollars. However if you really want to look at something interesting look at the latest projections of world population growth (or decline). ABC of all people ran an interesting piece on it a couple of months back.
It takes 2.1 children per couple to remain any population stability. The entire social security model is built on a population growth model. A pyramid when you graph demographics. Except most western countries now represent a rectangle with some showing an inverted pyramid.
China has been in population decline since 2018. India appears to be population stable this year and to drop moving forward. South Korea is in decline, Japan is in decline. America is only maintaining population growth thru immigration.
So, wealth is in real estate and generally owned by the ageing population (New Zealand best example of this), there is a current population which cannot be supported by the future (and shrinking) workforce.
Younger people don't want children due to cost, high interest rates and inflation. Their jobs are quite secure and they don't need to actually invest in property.
I think Aus is safe due to super but boy it is really starting to look interesting.
