the coalitions legacy

  1. 5,881 Posts.
    John Howard the great inflator,

    from the Australian

    A recent survey of US, Australian and New Zealand dwelling affordability by US-based Wendell Cox, in collaboration with New Zealand's Pavletich Properties, shows that of about 100 cities in the three countries with populations over 1 million, four Australian cities -- Sydney, Melbourne, Brisbane and Adelaide -- are in the top 15 and classed as "seriously unaffordable" given the income of their residents.

    Sydney is not shocked to discover that it ranks fourth most expensive city in the area relative to income. But residents of Adelaide will be shocked to learn that the survey shows their city is more expensive than Boston. Perth, Canberra and Auckland are not much better and even Darwin is classed as "unaffordable".

    The Reserve Bank does not want Australian housing prices to collapse but wants the steady trend to continue so they gradually fall back into line.
 
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