[tiew9Vii]

Australia's other problem is houses are not homes to live in, they are tax efficient investments.

So you have a lack of properties pushing up rents/sale costs as people need a home to live in and will pay what they have to pay until they can't. Anyone buying has to pay more than the previous owner to ensure a capital gain after being negatively geared to avoid the economy collapsing as Australia's wealth is in property. Requiring someone else to pay more than the previous person is a definition of a pyramid scheme. Higher purchase price then requires higher rents to cover costs and homes become even more out of reach.

You will be extremely lucky to find a house within 45-60 minutes of Sydney selling for less than $1,000,000 / $650,000 usd. Those houses in the $1,000,000 range will be little more than wooden, asbestos ridden shacks, last renovated 30-40 years ago so needing big renovations. The average salary in Sydney is $80,000 according to https://www.forbes.com/advisor/au/personal-finance/average-s...

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Low quality appliances, bad insulation, badly designed homes with kitchens and bathrooms in the deepest parts of the house with the lowest quality ventilation, dodgy real estate agents and really low housing supply large especially 3BDR+ which is essential for starting or growing a family.