And somehow this group, in the name of 'affordable housing', keeps coming up with ways to enable people to pay more and more for houses, rather than coming up with ways to make home ownership less expensive. I guess it's just one of those mysteries we may never solve.
Here's some more Recreational Statistics (a branch of Recreation Mathematics):
There are about 11.1 million residential properties in Australia, 30% of which, some 3.25 million residential properties, are held by investors.[1]
There are 25 million people in Australia, about 17.5 million of those are adults aged 25 years or older, of which about 12.8%, or 2.25 million, own one or more investment properties.[1,2]
Let's assume the majority of investment property owners also own their own home.
So, about 13% of Australian adults own about 60% of the housing.
Does that sound reasonable? I don't know if there's some alternate timeline where housing is more evenly distributed and life is better, or how to get there if we think that's a good idea.
