Interesting article by Leith van Onselen on Australian housing affordability.
Today it takes “380 weeks on the average wage (just over seven year’s income) to buy a typical house. This is down from around 430 weeks average wages (just over eight year’s income) required to buy a home in 2008 and 2010.”
Good news. But compare that to less than 250 weeks in 1995 — and less than 200 weeks in 1987.
In 1960, it took homebuyers just 7500 hours [188 weeks on the average wage] to pay off the average mortgage.
via Housing affordability improves but still poor | | MacroBusiness.
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