In addition of that 70%, the number who own their home outright has declined significantly since 1995.
But it is about the same now as it was in 1978 - that date used in the OP article! So why did you choose 1995 for your starting point with that particular stat? And do you explain the outirght ownership rate being about the same as back then, given your argument that it was all so much easier back then?
But it is about the same now as it was in 1978 - that date used in the OP article! So why did you choose 1995 for your starting point with that particular stat?
Around 1996-2003 is when the price to income ratio went through a rapid escalation, so around 1995/1996 is a relevant starting point.
Sydneyite you refuse to concede that house prices 2.5x more expensive today relative to incomes means it is more difficult for todays home buyer. I can tell you are intelligent from some of your other posts, but if something so basic eludes you then I have to wonder what your agenda is.
Edit: Mostly though the 70% home ownership stat is irrelevant, as it has no reflection on the percentage of eligible adults that own homes.
Shadow you were recently shown by Veritas that the 70% figure bears no relationship to the percentage of eligible adults that own homes
Actually, I don't think Veritas has figured this out yet... he was still asking Skamy this morning to tell him what adult children are counted as in the home ownership rates.
In fact they're not counted at all... the home ownership rates count dwellings, not people.
Sydneyite has already addressed your other point of confusion.
Actually, I don't think Veritas has figured this out yet... he was still asking Skamy this morning to tell him what adult children are counted as in the home ownership rates.
In fact they're not counted at all... the home ownership rates count dwellings, not people.
Sydneyite has already addressed your other point of confusion.
Why use the statistic then Shadow if it bears no relevance? Clutching at straws perhaps?
Why use the statistic then Shadow if it bears no relevance?
The ABS home ownership rates are very relevant, internationally comparable, and widely referenced.
I doubt the ABS would waste time publishing them if they were irrelevant.
The fact that you and Veritas don't understand them properly doesn't make them irrelevant.
Home ownership rates have barely changed for decades.
In addition, the number of persons per dwelling has also been falling for decades, not rising.
So your angle that there are less individuals with own their own home is a furphy - there are actually more households now as a proportion of the total population.
The number of households has been rising FASTER than the population...
The ABS home ownership rates are very relevant, internationally comparable, and widely referenced.
I doubt the ABS would waste time publishing them if they were irrelevant.
The fact that you and Veritas don't understand them properly doesn't make them irrelevant.
Home ownership rates have barely changed for decades.
In addition, the number of persons per dwelling has also been falling for decades, not rising.
So your angle that there are less individuals with own their own home is a furphy - there are actually more households now as a proportion of the total population.
The number of households has been rising FASTER than the population...
You've confirmed you don't understand the statistic. Thank you. It bears no relationship to the percentage of eligible adults that own property, which would be the relevant statistic to this debate if it were available.
Shadow you were recently shown by Veritas that the 70% figure bears no relationship to the percentage of eligible adults that own homes
Actually, I don't think Veritas has figured this out yet... he was still asking Skamy this morning to tell him what adult children are counted as in the home ownership rates.
In fact they're not counted at all... the home ownership rates count dwellings, not people.
Sydneyite has already addressed your other point of confusion.
I actually thought you had more about you than this sorry attempt to once again undermine my credibility by putting words in my mouth.
You know exactly what my argument is- and what is not.
Shame on you.
EDIT: Shadow will now derail the thread with misrepresentations, straw men and red herrings. Just watch.
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
You've confirmed you don't understand the statistic. Thank you. It bears no relationship to the percentage of eligible adults that own property, which would be the relevant statistic to this debate if it were available.
It's you who doesn't understand statistics. Can you not see that if the proportion of households per population has increased, while the homeownership rate has remained the same, then it must be the case that a GREATER proportion of eligible adults must own property than before? Think about it.
All of the data undermines your theory that it is harder to own property than in the past.
You've confirmed you don't understand the statistic. Thank you. It bears no relationship to the percentage of eligible adults that own property, which would be the relevant statistic to this debate if it were available.
It's you who doesn't understand statistics. Can you not see that if the proportion of households per population has increased, while the homeownership rate has remained the same, then it must be the case that a GREATER proportion of eligible adults must own property than before? Think about it.
And yet you still haven't a clue how many adults own homes compared to last year, or five years ago, or a decade ago, or 25 years ago.
Admit it. You don't know.
Stop obfuscating.
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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