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Melbourne housing now 'severely unaffordable'

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Melbourne housing now 'severely unaffordable'

MELBOURNE has scored near the bottom of a global ranking of housing affordability, raising fears that runaway house price increases in recent years have made Australia a less equitable country.

The Demographia International Housing Affordability Survey, which ranked 325 markets by affordability, listed Melbourne as the world's 321st most affordable city, more reasonably priced than only Sydney and a handful of other locations.

London is more affordable than Geelong.

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But I thought it was time to crack open the Champagne?

Hahaha spot on!

Why for f*ck sake should people be rejoicing in higher house prices when there will be no-one around who can afford to buy it...

Ahhh well who cares, I may be cash poor but my house is worth over $600k dont ya know.:wine: .......head in the clouds....Australia is f*cked.

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Hahaha spot on!

Why for f*ck sake should people be rejoicing in higher house prices when there will be no-one around who can afford to buy it...

Ohhh well who cares, I may be cash poor but my house is worth over $600k dont ya know.:wine: .......head in the clouds....Australia is f*cked.

Isn't it all based on increased debt and being bailed out by negative gearing...

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I am glad that both my fiance and I are doing extremely well with our savings and would not want to be a property owner for quids right now...

I cannot forsee with all that is happening how our govenrment and banks can keep the property bubble afloat much longer...the horse has bolted and there is no going back.

They may need a few more natural disasters to defer the blame to.

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I am glad that both my fiance and I are doing extremely well with our savings and would not want to be a property owner for quids right now...

I cannot forsee with all that is happening how our govenrment and banks can keep the property bubble afloat much longer...the horse has bolted and there is no going back.

They may need a few more natural disasters to defer the blame to.

You sure you wouldnt want to be like Waz???

Comment from this article sums it up really...

I can't believe how many people are decrying this all of a sudden. "The baby boomers should help out", "the rich are getting richer", "betrayed by my country":huh: etc.

My wife and I have a small business, work a full-time job each and have a family home. We've just purchased a new place mortgaged by the bank and suddenly it's neo-feudalism? We both work 65+ hours a week across two jobs - why? Because no one's going to give you anything. You want it, get out of bed each morning and go to work. Up-skill, work hard and get ahead.

We've got close to three million in property and before you call me rich we've also got close to that in debt. It's not impossible, it's just harder than it was but so what? Where does this sense of entitlement come from? "I deserve" is all I hear and I'm sick of it.

I'm only 34 yet it seems more and more people are expecting the world to look after them rather than step up and put in the hard yards to get what you want.

Waz | Geelong - January 24, 2011, 12:52PM

Gee Whizz

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You sure you wouldnt want to be like Waz???

Comment from this article sums it up really...

If that clown and his wife work so many hours, then why do they also need $3 million in debt?

If they end up being "successful" then do we cheer them for their hard work, or do we cheer the lender of the $3m for making it all possible?

What if I borrow $5m and bludge all day and end up making more money than this clown? Does that make me more or less meritorious?

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