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JB, out of interest, how long did you save for a deposit, and how much deposit did you put down? What did your property cost to buy? Assuming the above scenario you mentioned is you, and you put down 20% deposit (including FHOG) plus costs of around 6% of purchase price, then the $250k...

If you're saying that the "beginner home" was new, then in the 70's it still couldn't be done by most. The standard purchase for a first home buyer then was a second hand home that needed work. Only the better paid first home buyers could buy something new. My mum remarried when I was...

Actually, I think back then everyone was living a half a day's horse and cart ride from the city, and they went there twice a year.

JIT, Oh, please...

Yield, in those days the population was about 5 million for the whole country. In the late 60's, I was around 7 or 8, and my Auntie moved into a new housing subdivision in Burwood, in Melb at the end of the tram line. We used to go visit her, and we had to get off the tram and walk the...

Excellent work MJ, and I'll bet you look back now and think: "gee; that wasn't so hard!"

No it doesn't. It can simply be a few more properties in the very high end of the market that bump up the dollars turned over for that area. meanwhile the bulk of the sales are still below the median. It's an inaccurate reflection.

And ironically, if all the 2nd, 3rd home buyers didn't keep trading up, but instead just stayed in the more modest house and bought IP's instead, they would have a lot more wealth, retire early, and buy the really good PPoR for cash and still have a good lifestyle.

But Springvale isn't cool. Now, with my investor brain engaged... Springvale; mmmmm!

Quite right, and we investors are doing all we can to buy low, so it's not our fault the prices go up. The other thing about the median price is that it represents the exact halfway mark of the dollar value of the properties sold in a period. It could be that there were more houses sold...

Well said Alex. Don't even start me on how the Mexicans in L.A, who are usually in the minimum wage job, can all work in Maccas, or B.K's, or do gardening and home cleaning, can band together as a family (or 2 families) and buy a small house and live in it; sometimes 10-14 people at a time...

Nth Brissy & Hobo-Jo, We are not "having a stab at FHB's" on this thread, or on this site. We don't raise the complaint about affordability - you guys do; we just respond, the same way a parent does to a child who says "it's too hard", when as a parent we know the whole planet can do it...