Liam :fnord: on Nostr: This is quite fascinating to me, as it really illustrates that in Australia: - older ...

This is quite fascinating to me, as it really illustrates that in Australia:

- older generations are much more wealthy in aggregate than we think
- wealth distribution amongst those older generations is much more unequal than we assume,
- family transfer of wealth is really the only realistic way for younger generations to buy housing
- for a significant fraction of buyers/owners, for questions of housing, interest rates just don’t matter

https://www.abc.net.au/news/2024-03-13/quarter-of-properties-purchased-with-cash-2023-nsw-vic-qld/103576718