Australia

"Can't afford" is a loaded phrase. I think it depends on one's life gaols. IE A high standard of living or a lower standard of living, but high quality of life.

I just looked it up. In Australia it costs between $300,000 to $450,00 to rear a child to age 18. The assumption is that a couple will both work, producing an AFTER TAX income of about $130,000 PA.

We have been conned. Somewhere along the line we came to believe that a high standard of living equals a high quality of life. Good little consumers buy lots of "stuff"

BUT yes, there is certainly a housing bubble in Australia, making our houses among the most expensive in the world. Today, the median house price in Adelaide is between 900-$1 million.==== I live in a so-called dormitory suburb. Today my modest, 120 square metre house has a council valuation of $700,000.

Today, cheap houses can still be bought. That's fine, as long as you don't mind living from 150 km [and more] from the City.

I have no answers. I'm 78 years old. I can't tell if things are distorted through the lens of advanced age, or things really are as bad as they seem for young adults just starting out in life.