Australia housing bubble

[b0son]

Originally Posted by asagaai

Life and things change- fair or not. Why can a healthy human now live to 90 but 200 years ago they could only live to 50 odd- that's not fair.

What's not fair is expecting young people to pay the taxes to pay the pensions for these 90yo's to survive while they own 1mil+ properties, especially when those pensions wont be around by the time those same young people are that age.

Life has never been easy on many levels- wealth acquisition, property acquisition, health, wars- and it never will be- the only constant will be the challenges will always be there and never be the same.

There are challenges, and there are outright roadblocks. As a society, we need to recognise the difference. Plowing $$$$ into property is economically unproductive, it doesn't increase our prosperity (by improving our productivity). What do people do when they pay off a house? They buy stuff, they do stuff, stuff that involves spending money. That benefits the wider economy. If someone is shackled to a mortgage their entire working life, they don't spend, it drags the entire economy down.