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In terms of the price effect, isnt it more about the number of people that the supply can accomodate? So the desireable land that once housed 1 family, now houses 50 families (the compositional change you mentioned earlier). From memory Australia has one of the least dense dwelling...

Thanks hobo-jo, keith. I do agree that Australia has 'natural' endowments that make housing very attractive (one of the best countries in the world to live in). This will maintain demand over the long run. But its only half the story. I'm not so sure on the supply side - right now...

Hobo-jo, interested in your thoughts on why this has happened (similar to the drivers i mentioned in OP or different?) and whether it's nearing/reached an upper bound? Certainly by international standards, we are quite unusual on this metric. Keithj - good point about the compositional...

Great post Keithj, although i'm not sure that future generations are working less than previous ones...

The question is more about whether our levels of debt are sustainable, not how much we have. As i and others have mentioned, there's been a range of factors that have increased our ability to both attain and service our debt over the past 30 years. Cheers, Redom

Haha. Solid.

I like this view! So its about whether supply can keep pace with demand. A century long success story is much better than a 3 decade one!

Heya, There's a fair bit of debate across SS on what?s going to happen to property prices. There seems to be a view that what?s transpired over the last 30 years may happen again. Fingers crossed! Digging a little deeper though, thought it'd be worth getting people?s views (especially...