Australian Property Market
The Australian property market has shown steady increases of around 3% per annum since the 1970s. Since the 1990s however, prices have risen by around 6% per annum.
In the late 2000s, housing prices in Australia, relative to average incomes, were among the highest in the world, prompting speculation that the country was experiencing a real estate bubble, like many other countries.
Read more about this topic: Australian Property Bubble
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“The Australian mind, I can state with authority, is easily boggled.”
—Charles Osborne (b. 1927)
“I have no concern with any economic criticisms of the communist system; I cannot enquire into whether the abolition of private property is expedient or advantageous. But I am able to recognize that the psychological premises on which the system is based are an untenable illusion. In abolishing private property we deprive the human love of aggression of one of its instruments ... but we have in no way altered the differences in power and influence which are misused by aggressiveness.”
—Sigmund Freud (1856–1939)
“The market came with the dawn of civilization and it is not an invention of capitalism.... If it leads to improving the well-being of the people there is no contradiction with socialism.”
—Mikhail Gorbachev (b. 1931)