Photo by on Australia, the country which is known for its beautiful beaches, vibrant cities, and stunning landscapes, has been seen as a paradise. But living in this paradise isn’t as easy as it seems.The Housing costs in the Australia is rising significantly, similar to other other developed countries like Canada, the UK, and the USA.In 2023, Australia entered a for only the third time in 40 years, a downturn that has hit Australians hardAccording to the national accounts, real GDP per capita fell by 0.4 percent, marking the sixth consecutive quarterly decline.it’s hitting people hard. Wages have dropped to levels not seen since 2011, and although COVID-19, natural disasters, and inflation have all played a part, Australians feel the high cost of living the most. By mid-2024, the economy had shrunk per capita for six straight quarters, marking the longest stretch of its kind without any break, surpassing previous downturns in the early 1980s and 1990s.
