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When the final sunrise dawned on the last day of the second millennium, Australia was riding high, living standards were rising strongly, mortgage rates had been cut by almost two-thirds from their peak, and the median home nationally was affordable for the median-earning household.
It was a time of ambition and hope, where better days were always just over the horizon, where the Great Australian Dream could be a reality if someone was willing to work hard enough for it.
But as the chart below reveals, this period was not to last forever.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.