Land Is Too EXPENSIVE and Getting SMALLER (Is the Australian Dream DEAD?)
Channel: Daily Insight
Date: 09/09/2020

It wasn’t that long ago when the Australian or New Zealand Dream was to own a three or four-bedroom house on a quarter acre suburban block of land (so about 1000 m²). This allowed enough space for vegetable gardens, fruit trees, and lawns for family recreation. But I would suggest that for most Australians, this dream is dead. Due to rising land prices over the last couple of decades, the dream has become completely unaffordable. Many young Australians have essentially given up on the Australian Dream, or perhaps rewritten it. They figured if Australia can’t provide them with a house, then the world will become their home. The Australian Dream for many millennials has essentially become, “The ability to travel widely and live and work anywhere but Australia”. Thanks to COVID-19, that’s no longer possible either. Young Australians have been given a really bum deal.

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IMAGE RIGHTS
Backyard cricket, Getty Images
Mawson Park Campbelltown New South Wales, Kgbo / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)
Revesby Workers Club, Gareth Edwards / CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)
Redland Bay Houses, https://www.facebook.com/Junita-Grosvenor-Community-Awareness-Div-5-1270249092988917/?ref=page_internal

OUTRO MUSIC
Fortress Europe by Dan Bodan (https://www.youtube.com/user/danbodan)

#houseprices #australianpropertymarket #housingbubble2020