here's an interesting exercise for you
go to the page at bottom
at the top of the graph, click on the blue box and select "prices against average income"
then on the right side select all 20 countries
you'll see that only hong kong has more expensive housing compared to income
why is this?
perhaps because we demand to live in 1st world homes
but only earn 2nd world wages...
unless the country can earn more through exports we simply can't afford australian homes with 2 car internal garages, ensuites, studys, rumpus rooms, ice-making fridges and 42inch lcd tvs
what we can afford is 3 bedrooms, living room, kitchen, car port, normal fridge and a 26'tv
this shouldn't be surprising
afterall, our productivity, size, exports and location, all slot us somewhere between australia, on 1 side and fiji, tonga and samoa, on the other
go to the page at bottom
at the top of the graph, click on the blue box and select "prices against average income"
then on the right side select all 20 countries
you'll see that only hong kong has more expensive housing compared to income
why is this?
perhaps because we demand to live in 1st world homes
but only earn 2nd world wages...
unless the country can earn more through exports we simply can't afford australian homes with 2 car internal garages, ensuites, studys, rumpus rooms, ice-making fridges and 42inch lcd tvs
what we can afford is 3 bedrooms, living room, kitchen, car port, normal fridge and a 26'tv
this shouldn't be surprising
afterall, our productivity, size, exports and location, all slot us somewhere between australia, on 1 side and fiji, tonga and samoa, on the other
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