Alex Joiner, chief economist at IFM Investors, has penned an interesting article at Fairfax looking at housing affordability in Australia.
Joiner concludes that the housing affordability picture has been skewed by a range of factors and, more importantly, asks whether having such expensive housing and high debt loads is appropriate:
Since the March quarter of 1980, national capital city dwelling prices have risen 11-fold, while the price of everything else (as denoted by the Consumer Price Index) has risen by about 4.7 times…
