When you read articles about Australian housing affordability, it is often comparing the single average adult wage to house prices, from generations ago.
The articles generally say something like, ‘a house was worth three times the annual average wage back in the sixties and is now worth 10 times the average wage. This shows housing has become unaffordable.’
You can’t compare the two because back in the sixties it was one wage bidding on real estate.
The price gap between rich and poor locations determines the length of a person’s lifespan. The deaths can be predicted with precision because they conform to an economic process that has divided the nation for centuries…
We’ll dig into all that in a moment — first, some more data. And let’s start with the housing market that triggered the chaos in 2007.
More than 80% of today’s wealthiest Australians have made their fortunes speculating on land property, mining, banking, superannuation, and finance…
Arrived Homes offer low-income Americans shares in rental properties for as little as US$100. They claim it’s an ideal way to forego the cost of buying a rental property…
‘Housing could be 4 per cent cheaper if we axe stamp duty and give future buyers the option to choose an annual land tax’ said a recent NSW report.
Vacancy rates for apartments are not much better now. It hasn’t stopped the mainstream media claiming that buyers are ‘flocking’ into the apartment market…
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