Let me tell you the "why", and you won't like it, and the usual housing spruikers will come here to pounce on this, but fuck them.

(TLDR version: Your future is basically that of an indentured servant to pay for the boomer retirement.)

• House prices have to stay high so that the boomer generation, a powerful voting block, can stay wealthy and eventually cash out.

• Sydney housing is now a global investment vehicle, desirable around the world.

• You are competing against a massive global pool of cash.

• The world is flooded with cheap money seeking yield (and priced-out perpetual renters guarantee yield until the property is cashed out for capital gains that are magnified by certain taxation exemptions).

• Government choke and poke housing policy driven by vested interests (choke supply, poke demand).

• High infrastructure charges, levies and taxes on new housing supply.

• Chronic underinvestment in critical public infrastructure that would open up vast new areas for housing (high speed rail, quality local public transport infrastructure, outer suburb hospitals, etc.).

• Destruction of plans for a true national broadband network that would have opened up region centres to new employment opportunities, innovative services and cheap housing.

• Increasing concentration of employment opportunities in major cities.

• One of the fastest growing populations in the Western world.

• A stable political and social environment makes Australia highly desirable for immigration.

• A taxation system favourable to housing speculation.

• Record low interest rates.

• Ubiquitous TV/media/propaganda that push housing - things like The Block, etc.

• Huge hot-money outflows from China, bypassing Chinese currency controls, have been flowing into the Sydney and Melbourne markets.

• MASSIVE, active neglect of any form of review of illegal foreign purchases of existing dwellings. Even now the focus is on high-profile, multi-million dollar properties as showcase scapegoats and meanwhile the flood of foreign money continues, and will continue without letup, to distort the market.