Thursday, July 11, 2024

‘It’s Like Reading Roman History’: The Truth About Australia’s Housing Market

Adelaide city from the hills

Australia’s housing market is “like reading Roman history” one Reddit user has claimed in a thread bemoaning the fact that some Australian houses have made more money over a 50 year period than their owners.

Entitled, “An interesting anecdote about housing and price booms,” the thread explains how property can accumulate more value just sitting there than its owner can by sweating their backside off for half a century.

Statistics back this theory up. As The Conversation reported last year, “Real home prices across Australia have climbed 150% since 2000, while real wages have climbed by less than a third.”