There are hundreds of thousands of Australian workers who argue otherwise. These include architects, solicitors, builders, accountants, bookkeepers, painters, landscapers, mortgage brokers, bankers, public servants, quantity surveyors, valuers, carpenters, bricklayers, plumbers, as well as research analysts, real estate agents and property managers. Also don’t forget the mega hardware and supermarket chains and other retailers who are directly or indirectly indebted to the housing sector for their revenues. Real estate is big business and a vital cog in the Australian economy.
Moreover, we all need a roof over our heads, whether we’re renters or owner-occupiers. Yet listed companies come and go – anyone recall One.Tel or HIH, which took large wads of investor’s cash with them into liquidation?