Rent too damn high - but why? Less than 1% of Sydney rental properties affordable on low incomes; Sydney's high rents force many low earners into rental stress
Tweet Topic Started: 29 Apr 2013, 08:50 AM (5,141 Views)
so inspite of us being a tiny country we still spend a similar % of gdp on welfare as the USA?
sounds like confirmation we spend too much. 23 million vs 300 million, a vastly smaller tax payer base.
Timmy, read the chart.
We are below the OECD average. The OECD comprises countries big and small.
You want to belive that Australia has an enormous welfare state because that suits your petty minded ideological bias.
Its not true though.
Sorry.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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