Quote:
Originally Posted by JB80
Still I wonder how many of those home owners/mortgages date from 10 years ago or earlier. It's fine if you got in early I guess but these days it ludicrously unaffordable unless you have bags of money. And it's not easy for renters either.
There are a lot of people out there who should never got given a mortgage to begin with and certainly the government should never of thrown money at them to do so, many, if they don't default will be seriously advanced in their years before they can claim ownership. I'd like to see them fix the housing bubble sensibly before it crashes like the Spanish one.
We can't ride the mining boom forever, better hope there is a good plan b when that stagnates.
A proper national high speed rail connecting all major cities would be a tremendously huge undertaking.
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As Doug pointed out, I was in error, and I have no problem admitting that, however, I was actually quoting from two ABS figures, from the link shown, which was 2006, prior the 2008 GFC, and from another ABS figure that was very recent. You are right though, as a lot of those mortgages are more than ten years old. After the GFC a lot of people did pay down debt.
However, I still made the error by using two ABS disparate graphs without really thinking about it, which is my bad. Mind you, if I had been writing a report, I would, of course, double and tripled check my figures matched. But in the heat of an of a debate I made the cardinal sin, not checking that the figures match, and end up a little foolish. Not the or last time time, I am sure.
Oh well, you win some and you lose some, so I have no problem bowing out the debate graceful, as I am not a person who has to win and all cost.
Managed to get a few hours observing in, in between some cloud, so off to bed I go.