Highest house prices
So along with Melbourne having some of the highest house prices in the world, and our interest rates going up and up, it is just impossible to know what to do. Most people I know don’t know when to buy because we all just keep waiting for the median house price to drop but it keeps steadily going further up. On the other side of it all, the current economic situation has affected a lot of would be retirees like my parents. My dad was going to retire the year after the economic crisis but after it hit his superannuation just quartered in amount and without my mum working it made it impossible to retire. He has only just gone into retirement at the end of this year, making it three and a half years later than he originally wanted. He was so frustrated as they had planned holidays and all sorts of things that needed to be cancelled so he could continue working. Again it was due to no fault of his own. It makes it so unfair for hard working regular people that have to change their entire lives because of it.