People who living in Australia always puzzled by the house. We have a philosophy that wealthy buy house while the commons rent house is appropriately due to the personal economic strength at that time. On the contrary, it is not easy to get accurate consequence of that, cause it’s a global issue whether developing or developed.
The economists have sought out some information about that in the age of big data, two of the researchers from the University of Melbourne consider nearly 70 percent of the adult Australians want to have a house permanently and rooted in mind. That is to said, they do not look rent house as the best way especially they married, other from some developed countries but similar to chinese.
Dominic and lee, Australian economists, said have a new and more scientifically way of computing to research the final answers in buy or not through mixed the temporal datas of buy, rent and stocks into computing. They said the consequence is ambiguous, need case by case. They compared the datas of rent and bought house between 1983 and 2005, and the finally conclusion shows buy house was superior to rent in most cases whether wealthy or commons. And they also said the period of time is the key that it’s also the most profitable trail to take.
In Sydney, the most profitable time scattered over every time, except for 1989-1990 and 2003-2004.
In Brisbane, fleeting before 1993, but seems doesn’t matter.
In Melbourne and Perth, maybe we missed the golden period, in 1990’s, rent house should be recommended.
In Adelaide and Canberra, that’s the time to purchase.
Meanwhile, the economists also said, there’s always the risk when you buy a house because the datas of research are on the base of 30 years ago and from 1985. We should respect the results of research.
In my opinion, find a partner who are single and wealthy is another method to slow down the risks from the daily life.
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