Australian housing affordability at all-time low. Mark my words, this is the big issue for my generation. Sometimes I lie awake at night thinking about how every day that goes by is taking me further away from my dream of owning a home. Waiting and saving is no good if housing prices just keep going up. It's like running for the horizon. This article does a good job of summing up some of the issues:
Young Australian families face a much greater financial
burden from mortgage repayments on their overpriced houses than their American
counterparts. So much so, it found, that for many young Australian families
there is now no way to afford a home without having both parents working full
time and putting their children in care. In contrast, in the US, because house
prices are lower, there is far less need for both parents to work so less need
for the children to be placed in care.
So stop whinging about how Australian women should have "one for mum, one for dad, and one for the country" and start making it more affordable to settle down and have a family. I for one will not have kids if I have to work 60 hours a week just to pay the bills, and I'm sure many others feel the same. What is the point of having them if you only see them on weekends?
New Tom Cruise video leaked! Do you ever get the feeling that he actually thinks he is Maverick?
(I hope they gave Nancy Cartwright a birthday bash that was twice the size since she donates twice as much as stingy Tom Cruise)
Another bad day for the American economy. When are they going to cry uncle and officially declare it to be a recession? And how soon after will Australia follow?