It now takes more than nine times the average salary to buy a house in Sydney. Just a single generation ago it took three.
I don’t know about you, but as a “young person” currently living in Sydney, I find that statistic depressing. It’s becoming increasingly close to impossible for people my age to find somewhere decent to live in this city. Most of our friends in similar situations (twentysomethings, often still studying or recently finished and in their first jobs, many of whom are married or living with a partner) have taken one of the following all-too-familiar paths to living in Sydney suburbs: Continue reading