I am one of the luck ones, I have a four bedroom house with a low mortgage though not through anything that you want to thank the government for.

You can only hold off a natural cycle from occuring for so long. The large property companies have so much invested and so much to loose. Aussie prices would have dropped quite a lot more already if there was not a false economy going on all over the western world, Australia included. Government policy current and past is to blame for the overally inflated prices that make no sense in a low inflationary, low wage environment (low increases, low in relative terms). People supposedly have more than ever, well I would agree with that in part. MORE DEBT than ever before.

You meet baby boomer generations that try to say it is all relative, relative to what? They are in a situation where they are asset rich and that is not enough for them, they want more and more, sold to them by their own greed and if they do have that horrible human trait then it can soon be generated by a so called financial advisor from an industry that needs greater regulation to keep it in check with other western nations.

Wages increases are almost worthless with the spiraling costs of the so called Australian dream being taken out of the grasp of even supposedly well paid corporate career minded people.

Slowly a new middle underclass is being created that will create a strange social environment for the future. How can you be dragged into aiming for that so called greate corporate job when your rewards will not even allow you to purchase your own tiny unit. Where is it all heading -Asset poor, cash poor, well educated, socially disolutioned middle class Australian paying their hard earned dollars on renting a property from the unhappy, want everything socially disolutioned asset rich baby boomer generation, and if that is not enough you can also pay more of your hard earned cash on paying for their health care, and to top it all off we will now clamp down on every possible avenue that you used to have to earn a little tax free money, those days are gone and when you retire you will have to pay for your own health care because the asset rich generation would have spent the whole lot by then - Anyway it's all relative (NOT).