So that’s a10 year CAGR of 12.33%.
Australian Mean Dwelling Price*
2012 Q1 - $488,600
2022 Q1 - $930,600
A 10 year CAGR of 6.65%💀💀💀
* https://tradingeconomics.com/australia/average-house-prices
M1 money supply Australia AUD
2012 - 500$ bil
2022 - 1.6$ tril
If your net assets didn't keep pace with this, then you lost purchasing power... Which I am happy to bet was the case for most people.
Equally hardly a surprise that Australian real estate does what it does
https://data.bis.org/topics/CPMI_CT/BIS,WS_CPMI_MACRO,1.0/A.ABBA.AU.R1
Discussion
Indeed. RE provides an illusion of “making money” but in many cases does not