‘I would be happy if prices came down’: the older Australians wanting house prices to fall for their kids’ sake

Parents and grandparents who bought their first home with ease are hoping the slide in affordability can be reversed for the sake of the younger generation Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Pete Muskens, a 71‑year‑old retired architect from Melbourne, has watched Australian homes transform from places to live in to money-making assets pushing younger generations to the brink.

He bought his first terrace house in Melbourne in the early 1980s for about $30,000 – less than three times the average annual wage at the time – a level of affordability that is unimaginable for his two adult children. Continue reading...