Australians are the richest in the world, mostly living a good and dare I say peaceful life. I wouldn't think of even 100k people cares about this issue.
There is a very large gap between the haves and have not's in terms of property wealth.
It's a strange situation here. A 25 year old on 150k p/a will have major difficulty getting into the property market because owner investors, who bought in a couple of decades ago (or even a decade ago!) are reaping major benefits with regards to lending and tax policy.
The so called 'good' life is not enjoyed by the majority, but by a certain cohort of property owners.
Overall, as we'd say, it's 'not too bad', though.
errrrr... Australia is a big place so this isn't as concrete as you've made it sound. There's quite a lot of affordable property, but sure, the handful of places (cities) where a 25 year old can manage to get 150k p/a pre-tax income might also be inaccessible for buying property for a few reasons, one of which are the situation involving investors. However, this kind of person I wouldn't really exclude from being able to live the 'good life' available to Australians, but I get that this is moreso an example of a benchmark esp. related to the demographic of this forum.
Seriously though, many young devs in Australia can live a pretty great life beyond "home ownership" haha. And the average Australia can find decently priced property, just maybe not exactly in the neighbourhood they like most. But I don't think that's the point of property ownership.
"Australian adults are the wealthiest in the world, a new report has found.
Aussies topped the global rankings for median wealth per adult, at $A315,000 per person, according to Credit Suisse’s annual Global Wealth Report."
https://www.news.com.au/finance/money/wealth/australian-adul...