No Way Back, No Way Forward
What does "Rich" mean to you? Would you rather be "Wealthy" (High Net Worth) with a low to modest income, or have a "High Income" job and career but without high value assets. You need to choose between the two: money to live well now, or possibly rivers of gold when you sell. The Residential Property Market in Australia, especially in the six state capitals, sits at, or near, all-time highs in the ratio of Median Price vs Average Income, far in excess of the World Bank / Demographia "severely unaffordable" ratio of 5 [image below]. Especially troubling as real wages have been stagnant since at least the 2008, the Global Financial Crisis (GFC). How & why have buyers bid up prices? We're told this isn't a problem because " homes have never been so affordable ", as mortgage interest rates are at an all time low, so current repayments are low compared to household income. This ignores the "deposit savings gap" - ho...