Does this take into account multiple properties or just PPOR?
feech-la-manna on
does outright home ownership mean without/no mortgage?
Vaping_Cobra on
The other way to look at this is that the number of eligible customers for mortgages has shrunk to the point that the Ponzi scheme is over. No more room left to sell someone a mortgage means our ever lauded $2.2T housing debt goes from being the powerhouse behind our economic growth over the last couple of decades to being the noose around our neck as the banks keep trying to suck up repayments even as all the money and jobs are gone.
We started this experiment 30 years ago (look at the chart over the last 50 years and you can see the liftoff in the 90’s) and when we did everyone could take out a 30 year loan provided they had enough working life left in them to repay it. Now days we have saturated that market for the next decade or more already, people already have the maximum debt they can sustain or often we now lend for future wages growth taken into account.
_nism0 on
I’m on the verge of giving up.
Kick back like my friends do and try to enjoy what little life there is left.
Had a bunch of friends go traveling as it’s cheaper than living here. Some even move to Asia.
Sydney is the worst and we are seeing the outcomes already where the people that serve the city can’t even afford to live there.
When does it all end? Will there be riots?Â
highlyregardedyeah on
National average is 31%.
Really shows just how much prices are driven by banks and their monopoly money.
5 Comments
Does this take into account multiple properties or just PPOR?
does outright home ownership mean without/no mortgage?
The other way to look at this is that the number of eligible customers for mortgages has shrunk to the point that the Ponzi scheme is over. No more room left to sell someone a mortgage means our ever lauded $2.2T housing debt goes from being the powerhouse behind our economic growth over the last couple of decades to being the noose around our neck as the banks keep trying to suck up repayments even as all the money and jobs are gone.
We started this experiment 30 years ago (look at the chart over the last 50 years and you can see the liftoff in the 90’s) and when we did everyone could take out a 30 year loan provided they had enough working life left in them to repay it. Now days we have saturated that market for the next decade or more already, people already have the maximum debt they can sustain or often we now lend for future wages growth taken into account.
I’m on the verge of giving up.
Kick back like my friends do and try to enjoy what little life there is left.
Had a bunch of friends go traveling as it’s cheaper than living here. Some even move to Asia.
Sydney is the worst and we are seeing the outcomes already where the people that serve the city can’t even afford to live there.
When does it all end? Will there be riots?Â
National average is 31%.
Really shows just how much prices are driven by banks and their monopoly money.