New research found two-thirds of young Aussies and middle income earners have given up on home ownership. 9News
It comes amid concerns flaws in the housing market are having a negative effect on the whole of the economy, impacting Australian cities, governments and our way of life.found two-thirds of the 1609 people questioned agreed that young Australians will never be able to buy a home.New research found two-thirds of young Australians and middle income earners have given up on home ownership,
Housing affordability has become a major issue in Australia, which has one of the world's most expensive property markets.property prices rose in MarchSince 2005, the median house price In Sydney and Melbourne, has soared 3.5 times the inflation rate and 2.5 times the increase in average weekly earnings.
Some economists fear is turning the clock back to where wealth is being determined by parents' property ownership.
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