At the same time, the proportion of people in NSW with a mortgage has jumped by more than 30 per cent, with many of those heading towards their retirement years.
Despite prices falling for the past four years, the median outstanding mortgage in WA is $315,000. The median mortgage in Victoria is $260,000 while it is $265,000 in NSW. "There are more and more people who are getting into retirement with a mortgage over their heads," he said. NAB senior economist Kieran Davies, in a research note, said debt was now being carried by older people and at a much larger level than in the past.
swrighteconomy Wowe so unexpected! Prices went up 85% in 5 years, but people should just get better jobs and buy houses!! If they don’t it’s because of coffee and avocado
swrighteconomy Thank You reserve bank, you inflated the housing market, plus previous Labor and Liberal goverments.
swrighteconomy Look no further than the FamilyCourt forcing the sale of assets. It does little more than destroy the wealth of those who earned it.
swrighteconomy For too many years the Government have pursued policies for the benefit of those who own property to the detriment of those who don’t. That is why we have this devastating drop in home ownership.
swrighteconomy The graphs show: Capital cities reaching limits to growth starting from 1995. Additional boost from money printing and asset bubble after the GFC which was caused by the 2008 oil price shock
swrighteconomy Something is stuffed ..collapse in home ownership, collapse in private health uptake ...these great Liberal managers have f*cked the country . The ones who got the free university like Hockey and Abbott’s generations in John Howard’s govt f*cked it the most imho . auspol
swrighteconomy because GladysB and her banker mates like the wealth centered with their elite developer donors at the cost of working NSW citizens. nswpol
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