Was Buying a House Easier in the 80s? We Ran the Numbers | OWNI Ep 3
Leave us a question! 🎤 https://owni.com.au/ Was it easier to buy a house in the 80s? In 1986 the median house cost about $82,000 on an average wage of about $22,000. Today it is about $922,000 on about $108,000, so house prices have gone from 3.7 times the average wage to 8.5 times. But that is only half the story. With interest rates at 15.5% in 1986, repayments ate about 47% of a full time wage. Dion and David run the numbers on deposits, repayments and total interest to find out who really had it harder, and what the 5% deposit scheme changes. In this episode, you'll learn how long it…
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