Posted by Luke in According to this news article the latest round of research is telling us that Australia has 18 cities out of the top 50 least affordable cities in the entire world. The shocking statistic for me was that the place where I grew up, the sunshine coast, is the 2nd least affordable in Australia and the 7th least in the world! I was gobsmacked! This was the place where my parents bought a house for five figures in the early nineties. My how times have changed. The average style of home is somewhere in the $550,000 range and that’s not even that close to the water. I remember when Mooloolaba was a bum haven with a shop that sold bongs. Not so anymore.
One positive for me is that at least the world’s most expensive city wasn’t in this country. It’s actually Los Angeles. For residents of L.A. I am sure this is an honour they could do without. We aren’t too far off with people on the Sunshine Coast having to pay more than 8 times what they earn to get a mortgage. To be honest, I will continue renting … for the moment.
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