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Australian Treasurer Joe Hockey has some simple advice for young people trying to enter the housing market: Get a good job that pays good money. Easy, right?
The politician, who resides in a mansion with an estimated value of $5.4 million, has been slammed as out of touch with the general population and the housing stress felt by many people in Australian capital cities.
According to Fairfax Media, house prices have skyrocketed in Sydney in recent years, with a surge of 12.4% in 2014 recorded by CoreLogic RP Data. Meanwhile, Lateline reported the average price of a house in Australia is now 10 to 11 times the average wage.
On Tuesday, Hockey didn't seem to understand the reality of the problem for first-time home buyers.
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