Housing Crisis in Australia

Aliantha · 03-17-2008, 09:23 PM

I heard on the news today that Australia is one of the most expensive places to buy a house in the English speaking world. Apparently on average it costs more tha 7.5 times the average income to buy a house. So that means, even if you could put every cent into the mortgage for 7.5 years, you still couldn't pay it off because of the interest which means gone are the days when the average couple could well and truly pay off a house within 10 years.

Also, a bottle of coke costs twice the amount in Australia as it does in the US. (that's just a useless fact you may find useful some time)

03-17-2008, 09:23 PM	#19
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	I heard on the news today that Australia is one of the most expensive places to buy a house in the English speaking world. Apparently on average it costs more tha 7.5 times the average income to buy a house. So that means, even if you could put every cent into the mortgage for 7.5 years, you still couldn't pay it off because of the interest which means gone are the days when the average couple could well and truly pay off a house within 10 years. Also, a bottle of coke costs twice the amount in Australia as it does in the US. (that's just a useless fact you may find useful some time) __________________ Kind words are the music of the world. F. W. Faber

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