The biggest issue with housing affordability in Australia isn’t the price, it’s perspective.
When we talk about housing affordability in Australia, we often frame it as though the system is inherently broken. And if something is broken, it becomes something we need to fix.
According to the OECD’s Better Life Index, German citizens earn salaries that are roughly 25 per cent higher than the OECD average. Both their employment and education rates are higher than the norms. Comparatively, Australians earn slightly less . We also lag by a couple of percentage points on both employment and education, but we surpass the life expectancy average by two years, and the average portion of our gross disposable income spent on secure housing is 19 per cent.Given how similar so many of these key benchmarks are across all three nations, it’s interesting to consider just how different our cultural mindset is when it comes to housing and homeownership.
But in Germany and Switzerland, renting is not seen as a failure at all; it’s simply how the system works.
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