Quote:
Originally Posted by Unregistered
- property was fundamentally affordable back then
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This is one of those statements which remain true throughout history. Even when Oldman was a young man, his $450k semi-d would probably have cost the original owner less than $10k.
Fresh graduate salary should not be used to benchmark private housing affordibility because the only thing that gets printed faster than money is degrees.
Instead, a better gauge of how much income has risen would be to look at the ministerial salary benchmark, which has gone up almost a hundred times.
Most people tend to get very emotional about this and and accuse ministers of overpaying themselves, when in fact they are actually trying very hard to hold down the benchmark.
Every now and then, some data creep into public view like the famous doctor and the fee she charged her royalty client, or some posts in this forum that are accused of being BS, when in fact they are not. These are the real benchmarks.