Quote:
Originally Posted by andyc
Doug, personal anecdotes are not a great way to objectively identify what is happening here across the population. Look at the graph in this link. House prices are far outstripping wages growth across the country. [maybe less so if you're a tradie, building and fixing houses!] Tradies & builders do really well out of a housing boom (and a heap of 'home improvement' soaps on TV) - they are not representative of wages in the full workforce. I saw this firsthand with my dad in the 1980s and 1990s in the UK.
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Terrific Andy another graph. The figures Quoted are FACT. This was a property I actually owned. It was a job I actually had. It was relevant because it was what I was quoting where your graph takes into account the luxury end of the market along with the low end. Not to many 20 year olds who can afford to buy the multi million dollar houses that are included in this graph. It is representative but is just another excuse for wanting to have it all in the start.
If everyone started with sheets on the windows, no carpet, basic appliances as others here has stated then amazingly house prices in the outer suburban areas would seem much more affordable. Not everyone can live within walking distance of the CBD.