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Why is the Australian economy so great compared to the U.S.? The incomes you cite would be heaven for many here.
You like the sound of the incomes but you don't have to deal with the costs. The Australian economy isn't that great. We have huge commodity wealth and China kept us afloat during the GFC, but that wealth is unevenly distributed, cost of living is through the roof and there's a youth unemployment crisis.
Wow, only 2 bedrooms and 1 bath for over $300K? I guess you all make a lot of money! What is the primary industry there that has such great jobs? High Tech?
Well Brisbane is a state capital and the third largest city in Australia. Naturally it is a centre of government and finance as well as supporting Queensland s mining industry , in Brisbane city (not to be confused with the metropolitan area) 30%, of the employed workforce report their occupation as "Professionals" so that would be Lawyers, Accountants, Investment Bankers, Architects, Engineers, IT professionals, Doctors, Nurses etc, a further 29% provide admin support to them or Manage them. The biggest employers in the city are actually it's hospitals, followed by the schools and universities.
The census reported median family income for the 1.1 million people living in Brisbane city as $1873 a week ($97,000 a year) in 2011, that is what we told the ABS we were earning, not an estimate.
If you move out of Brisbane City and into the surrounding cities that make up the metropolitan area, things can get cheaper, this is about 20km South of the Brisbane Central Business District, about 1km from a train station.
Of course one thing that is always mentioned in Australia is investors coming from abroad. I have no idea weather it's a wide scale as some report, or weather it actually is a factor in keeping prices high. I think our media are overly dramatic about it all some times.
I find this graph interesting, It would indicted that US house prices crashed at a time when it had one of the most affordable markets in the world, based on dwelling price to income ratios.
Aussies are super-indebted. What a great system we have here. Saddle first home buyers with a huge debt and give tax relief to investors to lock up the supply side.
Couldn't you just rent an apartment for long time and save big money for a nice down payment your future home. or would it not make sense financially when you add up all the rent money you would have to pay?
Couldn't you just rent an apartment for long time and save big money for a nice down payment your future home. or would it not make sense financially when you add up all the rent money you would have to pay?
It's much cheaper to rent than buy the same house by a wide margin.
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