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Median age of homebuyers is 56 today.

It was 31 in 1981

Unaffordable for many is an understatement.

Also, it is no coincidence the family unit is dying out, as is birth rate. Less incentive to buy a castle when you are single.

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Boolish

I was looking at flats in Melbourne and it seems like the only achievable judging option for younger people. But the problem is also these flats depreciate in value like a car or remain stagnant at best. Only actual houses have value. Which is again bad. Apartments can be built more in better volumes but if asset appreciation doesn’t come with it, nobody is incentivised to buy it. Maybe this is just a problem I saw in one area, I haven’t looked at the problem in more detail. But regardless, Australia has undoubtedly one of the worst housing affordability in the world for a reason…

Over9k

Good job boomers, “the me” generation