Re: Australia housing bubble
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Re the mystical property bubble or housing bubble, there is no such thing, property has been increasing in value steadily for decade after decade it's a predictable increase in value that has been repeated for 50-60 years now.
My parents paid 65K for their house, I paid 165K for my first house. That was a lot of money back then, just like 50oK is a lot of money now.
The problem is the new generation, want the McMansion straight off the bat, they are not willing to buy the cheap two or three bedroom house in a crappy area and live without AC for the first ten years, they want it all, as well as the latest iPhone, the latest car, the annual holiday etc etc.
Something has to give.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd
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