The rocketing prices have moved private property ownership out of reach of most fresh graduates setting out in life. If they are lucky, they may get a government flat.
In some cases, they are an obstacle to young couples getting married or raising children.
Data shows that from 1990 to 2008, private home prices tripled, while household incomes only doubled. This implied that private homes were significantly less affordable now than 20 years ago, since the rise in home prices had outstripped income growth by 50%. Full story
