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Australia’s housing market is now worth $11.6 TRILLION… bigger than USA per capita

Australia’s housing market is now worth $11.6 TRILLION… bigger than America’s per capita 🤯

The ABS just revealed Aussie property is valued at $11.6 trillion. At first glance that might not mean much, but here’s where it gets crazy.

The US housing market is worth around $60 trillion with a population of 330 million. Australia has only 27 million people and yet our market is already one fifth the size of America’s. When you break it down per person, Aussies are carrying one of the most expensive housing markets on the planet.

Wages are flat, home ownership rates are falling, and first home buyer schemes seem to just push prices higher instead of fixing affordability. https://www.smartpropertyinvestment.com.au/first-property-buyer/26916-how-to-furnish-your-investment-property-for-maximum-returns

submitted by /u/Equivalent_Salad_569
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source https://www.reddit.com/r/RealEstate/comments/1ne2js5/australias_housing_market_is_now_worth_116/
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