Quote:
Originally Posted by T3rminator
Agree with this statement. Dad was a warehouse manager and mum was a teacher back in the days, I have no freaken idea how they managed the repayments when interests were in the mid teens. Its not like we were living scantly either.....2 cars, overseas trip every 2nd year etc... 
Having said that, data actually shows that whilst income to price ration has soared, the actual % of income spent on housing costs hasn't actually grown that much.
For example:
In 94-95, 4.6% of households spend 50% of their income on housing costs.
In 2019, that number 5.5%.
https://www.aihw.gov.au/reports/aust...-affordability |
Yep, my parents were the same. Mum always told me that at the end of the week there was always cash left over to spend on other stuff even with the high rates.
Regarding those statistics, I wonder what influence units and apartments have?
94-95 'housing' was (generally) a block of land with a yard and a Ford or Holden in the driveway.
Very different now. More houses are being replaced with units / townhouses / villas that are cheaper to buy but still cost a lot compared to current income.