Yes, while you are working you have to go where the jobs are, no getting away from that though hopefully improving communications technology will change that a bit. Don't think that the housing boom will bust, it may pause and readjust for a short while but in the long medium term will keep on inflating.
We should not forget that our living standards are relatively high though, much of what is considered 'essential' today was not available or considered a luxury not that long ago. So there are false expectations at work here too. Also relevant is the fact that our standard of living is partly supported by allowing foreigners to buy our land in the form of mining or real property, the latter being something that a lot of countries do not allow. Private debt is very high in Australia, some of which no doubt is relevant to funding extravagant lifestyles.
On top of all this we have multi levels of government all of which impose all sorts of costs that eventually have to be paid for and from which we demand all sorts of services and attention, a lot of which we should be able to do without or do ourselves. Basically I think we are living beyond our means as a country.