[smt88]

Housing bubbles don't always burst (see: Australia)

[lmpdev]

Australia is in DIRE need of reform - unfortunately we voted against Shorten's election plans in 2019 that would have dramatically reduced the upward pressure on housing prices

Anecdotal but I cannot afford to move back to the lower middle class regional town I grew up in, as there are 0 rentals and buying is minimum $800,000

My mother's place has gone from: 1990 - $100,000 AUD 2006 - $600,000 AUD 2021 - $1,200,000 AUD

The local council estimates we can only add 0.29% to the population YoY

[quickthrower2]

Australia might be a reverse bubble. It is really the salaries shrinking (in real terms) rather than hot house prices increases.

[viraptor]

My street going >60% up in price would disagree and I can't think of any other price that grew as fast in the last 2 years. Food and other things got slightly more expensive, but it doesn't seem comparable to the housing.

[quickthrower2]

I am guessing your street is a very hip desirable (top 1%) area.

Most suburbs would have gone up in 2021 and down in 2022 and not be that much higher.