Business
When houses earn more than jobs: how we lost control of Australian house prices and how to get it back – The Conversation AU
In some quarters, the median Sydney home earns more from capital gains than the median worker earns from wages. Now’s a good time to wind back the measures that push prices up.
Real home prices across Australia have climbed 150% since 2000, while real wages have climbed by less than a third.
Sydney and Melbourne rank among the most expensive cities in the world. Australia-wide, home ownership levels have fallen from 70% to 65% in the last 20 years and home equity levels have fallen from 80% to 75%. Younger workers have been completely priced out of the major cities.
Among those who can afford homes, the increase in household debt to income ratios is weighing on consu…
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