From a ‘class divide’ to ‘intergenerational theft’, Australia’s real estate frenzy leaves many behind

An un-renovated semi-detached home in Bondi sold recently for more than $2.7 million. It had last traded back in the early 1950s, in the pre-decimal currency era, for about a thousand pounds.

The “mint original condition”, three-bedroom home up the hill from the famous Sydney beach, provides a…