Re: Australia housing bubble
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My version...
It's all well and good talking about 6 times average earnings blah blah
Whineing about how good we had it forgets a few facts.
Years ago we had one income...now there are two.
How did prices go up? At auctions we had people bidding on the assumption of one income.
As time went by the dual income equal opportunity hard working child care dependent women would assist in the auction, bidding the price up cause they had more money to bid with their partners.
The rest is history....the market is driven by what people will pay.
Where the sookey lah lahs get into trouble is when she gets pregnant and one income stops.
Happy to hear any other version of it?
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