Video encyclopedia

Australian Dream


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The Australian Dream or Great Australian Dream is a belief that in Australia, home-ownership can lead to a better life and is an expression of success and security. Although this standard of living is enjoyed by many in the existing Australian population, rising house prices compared to average wages are making it increasingly difficult for many to achieve the "great Australian Dream", especially for those living in large cities. It is also noted as having led to urbanisation, causing extensive urban sprawl in the major cities. The term itself is derived from the American Dream, which first described the same phenomenon in the United States, starting in the 1940s.
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