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Hurrah, someone else who may agree with me!!! Yieldmatters, you are number 2 Did you see the following article in today's news from the REIA? Housing affordability falls almost 10pc December 21, 2007 HOUSING affordability declined by almost 10 per cent over the past year, a...

Thanks for enlightening me. Just shows you that if we don't understand statistics, that we can come to the wrong conclusions and even worse, end up making wrong decisions.

Lizzie, take it from an ex statistics teacher that the above information is dead right. Most property experts regard the median as the best statistical measure of the "typical" price that would be paid for property in a particular area. I know that it doesn't tell the whole story but when you...

Good point, Kenneth. If Residex's predictions are correct for 2008, then Sydney, Perth, Melbourne and Brisbane's unaffordability rankings are going to rank even higher in the future. Cheers

I used to think the same way as you. Most of the posts to this thread say that the principles of home ownership haven't changed much over the years ie that if we work hard enough, spend less than what we earn, scrimp and save etc then we'll be able to afford a house. I don't agree - things...

Thanks Hobo-jo, you are the first person to support me on this thread. This article is not about present prices, it's about what is going to happen in 2008. If people are struggling now, how are they going to cope when prices go up by 15% next year and say another 15% in 2009? Most people...

Residex's prediction is that Brisbane and Melbourne are likely to increase by over 15% in the next calendar year. Even the current cheaper areas like Blacktown are going to be difficult for many people to afford. Moving away from friends, family and a safe environment is easier said than...

Most people cannot or are unwilling to live in Blacktown. $250,000 is not a typical price that most first owners would pay for a house. Even those who are willing to make sacrifices early in life are going to find $500,000 very difficult to afford.

Just read Residex's latest report. They predict Brisbane & Melbourne's median price is going to reach $500,000 sometime in 2008 and Sydney's to be $600,000. See: http://www.residex.com.au/newsletter/source2007-12bMC.html The unaffordability crisis is going to deepen in 2008