Australian government policies are creating a big problem for younger generations who are locked out of home ownership. Australian median wages and salaries are not enough to justify such high house prices either. For some of the other most expensive housing markets, at least their salaries are higher. In Australia it's like a double whammy of super high house prices and only medium level salaries to pay for it. At the same time there are a lot of wealthy boomers who got in early and are now sitting on huge gains, and they naturally do not want to see their own portfolio drop. The way out will involve some hard choices. Like stopping immigration, mass deregulation and support for building more housing all at once. But the Australian government is not making a meaningful enough effort to fix this issue that they created. Some of the policies are just pumping the demand side (government taking equity in the home? Lower deposit requirements?), other aspects are where they are simply not getting out of the way fast enough. In simple terms, it doesn't look like they're willing to take the pain required to fix this. So it won't get fixed. For a long time I viewed Australian property as overpriced and I'm glad I just kept on buying Bitcoin. I don't live in Australia anymore, but if I did, I would probably rent and stack bitcoin as my strategy.