#auspop — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #auspop, aggregated by home.social.
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Property Boom Fuels Surge in Aussie Millionaires
A record-high wave of Australian millionaires is being propelled by soaring property values, making home ownership the central engine of wealth building. The average dwelling price recently topped AUD 1 million nationwide, driven by escalating values across capital cities and regional markets alike. Property now makes up roughly 75% of household wealth, but many are “asset-rich and cash-poor” due to illiquidity.
This boom underscores growing wealth inequality and the challenges faced by first‑home buyers amid supply shortages, tax settings, and rising inheritance flows.#auspop #ponzischeme #ausproperty #negativegearing #inequality #taxtherich
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CW: Covid association whimsy