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Apparently 67% of Australians own their own homes [1], which suggests that it’s not just the top 10% driving prices up? [1] https://www.aihw.gov.au/reports/aus

• tmnvix 1y ago
  Not quite. 67% of households are owner-occupied. This means adult children living with parents are counted in the 67%. Also flatmates and boarders, elderly parents, etc. Obviously children are not home owners as well. A lot less than 67% of Australians own their home.
  • skybrian 1y ago
    Oops, thanks for clarifying.
• potamic 1y ago
  Most people own a home for living and purchase it maybe once in their life time. It's the wealthy that engage in speculation and use real estate as an investment vehicle. This kind of behaviour creates an artificial demand for the resource raising its value. The 67% ownership is also the figure that stands today as a result of purchases going back many decades during better times. As the report shows, ownership has been reducing successively with each generation even as the dependency on mortgage has been increasing. The ease, if not ability, of owning a home is definitely going down.