Also, we have the highest median wealth per adult in the world.
UN rating is heavily skewed by the human rights charter, a lot of the category tick boxes are superfluous throw aways but we tick them. You have no idea how that assessment is made and yet you spruik it as case in point.
As for highest median wealth it is heavily skewed by your precious house prices, again hardly case in point.
UN rating is heavily skewed by the human rights charter, a lot of the category tick boxes are superfluous throw aways but we tick them. You have no idea how that assessment is made and yet you spruik it as case in point.
As for highest median wealth it is heavily skewed by your precious house prices, again hardly case in point.
Got anything worthwhile to add??
+1
Even if house prices only fall the 20% Shadow has predicted, we would tumble drastically on that measure.
A yet, unless banks margin call loans just because house prices fall, little has actually changed.
People still work, live in houses etc.
Our ranking would plummet just because people perceptions or belief in the value of a home fell!
Seems to me too many people are using the wrong value system to measure the worth of a home.
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
UN rating is heavily skewed by the human rights charter, a lot of the category tick boxes are superfluous throw aways but we tick them. You have no idea how that assessment is made and yet you spruik it as case in point.
As for highest median wealth it is heavily skewed by your precious house prices, again hardly case in point.
So we only have the highest wealth and highest standard of living because the indexes are skewed towards measuring wealth and standard of living?
Housing is currently clearly more affordable now (well, in 2013-14, the latest data) to Australian households with a mortgage than at any time since before 1994.
This is especially striking as we know that real income has increased greatly since 1994. So households now spend a smaller proportion of an even larger income on housing.
in 1994, far more 'households' would have been single people who spent 18% on mortgage, now almost exclusively it would be 2 incomes. There are major flaws in these stats or at least in your interpretation. I know many people who absolutely could not afford their 1970's 12SQ daggy houses now that they bought back in the 90's, in suburbs that are still outburbs and still at the bottom of the desirability list, and not even at todays micro interest rates. Somewhere along the line they went from describing a house costing 3 to 4 times a single gross income to the situation today where they very craftily state it as being a 'household' income and then pointing out that it is only 4.5x and suggesting that it is not much more than 20 years ago or so.
in 1994, far more 'households' would have been single people who spent 18% on mortgage, now almost exclusively it would be 2 incomes. There are major flaws in these stats or at least in your interpretation. I know many people who absolutely could not afford their 1970's 12SQ daggy houses now that they bought back in the 90's, in suburbs that are still outburbs and still at the bottom of the desirability list, and not even at todays micro interest rates. Somewhere along the line they went from describing a house costing 3 to 4 times a single gross income to the situation today where they very craftily state it as being a 'household' income and then pointing out that it is only 4.5x and suggesting that it is not much more than 20 years ago or so.
Pure REAgent spruik bullshit.
+1 The stats are complete bullshit
Shadow
18 Oct 2015, 09:12 AM
So we only have the highest wealth and highest standard of living because the indexes are skewed towards measuring wealth and standard of living?
A person who gloats about misleading his bank talking about living standards
I think the claims that some bears were making was 100% right.. ie. that previously, a single income family could afford to purchase a home. Now, a double income family is required to purchase.
Household income has risen thanks to both partners sacrificing home time (with the kids) to work... the benifit of that has been to tread water in regards to purchasing a home.
If measured in the same way as it was for some previous generations (ie. single income family households), does this reduce the affordability ?
I don't think Australia would have been any higher than 1st place prior to 2011.
Since you did not address the rest of my post, I will assume you accept my point.
More people working per household means mortgage only remains affordible if you measure gross household income and ignore the extra money flowing thanks to mothers who are now working more.... glad we can agree.
The fact that this is a global change (mothers working) simply means that the boom in property elsewhere has also been funded by this additional income... housing remains affordible as long as more people work for longer in the household
As for the OECD Quality of Life Index.. since it did not exist in the 1950's and 60's, we can not imagine where we would have sat back then to know if we have risen, or simply remained at number 1.
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