The true measure of affordability is how long it takes the (say) ordinary man to buy something.
Saying it was expensive ' back in the day when IR were 10% + etc is not valid.
The truth of the matter is that for a young Australian to buy and own a home today, the mortgage is a greater % of their wage than it has ever been and house pricesto Avg weekly earnings has blown out.
( this is before the equity redraw to buy the commodore etc)