, since 1991, the ratio of property debt to household income has more than doubled.
Back in the 1990s, a household had to set aside around a third of their earnings to pay back their debt. New data released on Tuesday showed that 23.8 per cent of new borrowers in three months to September 30 of this year were in this category, up from 16.3 per cent 12 months ago, and 21.9 per cent from the previous quarter.Record low interest rates coupled with short supply but rampant demand has fuelled the property boom to astonishing new heights.
Do you really think people need a graph to know how shafted they are😎
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