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It doesn't matter how much you cook at home if wages haven't kept up with house prices (in australia anyway) - https://www.sbs.com.au/news/article/the-charts-t

It doesn't matter how much you cook at home if wages haven't kept up with house prices (in australia anyway) - https://www.sbs.com.au/news/article/the-charts-that-show-why-owning-a-house-is-out-of-reach-for-so-many-australians/mxs9vjw6i https://www.sbs.com.au/news/article/the-charts-that-show-why...

sarchertech 1y ago
In the US and probably in Australia at the top of the market. If housing prices crash like they did in 2008/2009, those charts will look a whole lot better.
- chadcmulligan 1y ago
  It would need a very big crash, this is 50 years of price increases - https://www.realestatebusiness.com.au/industry/29004-50-years-of-data-shows-stark-change-in-income-to-house-price-ratio https://www.realestatebusiness.com.au/industry/29004-50-year... It's the much quoted - boomers pulling up the ladder after them in action. In the oz market new home buyers can't compete with investors that are pushing up prices.
  - sarchertech 1y ago
    From the peak in 2006 to the lowest point in 2012 the US we saw housing price drops of close to 1/3. In the areas that rose the most, they dropped 50%. Based on that article you linked a 50% drop in the hottest markets wouldn’t bring price to income ratios down to 1975 but it would be kinda close. Especially when you consider house sizes now vs then.
    - chadcmulligan 1y ago
      Seems we're talking about different markets - the 2007/2008 crash didn't really change prices here, just slowed growth. There seems no crash in site here. https://creditmediation.com.au/news/2024/10/10/the-rise-and-rise-of-australian-property-prices-a-century-of-boom-and-bust/# https://creditmediation.com.au/news/2024/10/10/the-rise-and-...
      - sarchertech 1y ago
        According to that article government stimulus propped up property prices. Maybe there’s something unique to the Australian market that justifies 30 years of rising prices with no corrections. Or maybe you’re overdue for a massive bust.
kulahan 1y ago
It’s much the same in the US. The 2008 housing crisis contributed massively to our current housing shortage, zoning has gotten tricky, and while wages have grown by 20-30% since the 70s, housing prices have doubled. The problem, it seems, is the stratification of classes expanding.

sarchertech 1y ago

In the US and probably in Australia at the top of the market. If housing prices crash like they did in 2008/2009, those charts will look a whole lot better.

chadcmulligan 1y ago
It would need a very big crash, this is 50 years of price increases - https://www.realestatebusiness.com.au/industry/29004-50-years-of-data-shows-stark-change-in-income-to-house-price-ratio https://www.realestatebusiness.com.au/industry/29004-50-year... It's the much quoted - boomers pulling up the ladder after them in action. In the oz market new home buyers can't compete with investors that are pushing up prices.
- sarchertech 1y ago
  From the peak in 2006 to the lowest point in 2012 the US we saw housing price drops of close to 1/3. In the areas that rose the most, they dropped 50%. Based on that article you linked a 50% drop in the hottest markets wouldn’t bring price to income ratios down to 1975 but it would be kinda close. Especially when you consider house sizes now vs then.
  - chadcmulligan 1y ago
    Seems we're talking about different markets - the 2007/2008 crash didn't really change prices here, just slowed growth. There seems no crash in site here. https://creditmediation.com.au/news/2024/10/10/the-rise-and-rise-of-australian-property-prices-a-century-of-boom-and-bust/# https://creditmediation.com.au/news/2024/10/10/the-rise-and-...
    - sarchertech 1y ago
      According to that article government stimulus propped up property prices. Maybe there’s something unique to the Australian market that justifies 30 years of rising prices with no corrections. Or maybe you’re overdue for a massive bust.

kulahan 1y ago

It’s much the same in the US. The 2008 housing crisis contributed massively to our current housing shortage, zoning has gotten tricky, and while wages have grown by 20-30% since the 70s, housing prices have doubled. The problem, it seems, is the stratification of classes expanding.