Quote:
Originally Posted by BIG-block
Our economy took the GFC reasonably well compared to a lot of countries but there is a price to be paid for that and higher interest rates are one of them.
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"Severely Unaffordable" housing is one...
http://www.demographia.com/dhi.pdf
Page 9 of this US report shows Australian capitol cities among the least affordable in the world (source countries anyway)
Atlanta, GA average housing affordability = 2.3 x average income
Melbourne, AUS average housing affordability = 9.0 x average income
Sydney, AUS average housing affordability = 9.6 x average income