We are also the worlds wealthiest, see link below.
You see, you can't only use one side of the argument.
That's like saying, poor old Bob he is so in debt he owes the bank half a million dollars and only earns $240k pa.
Meanwhile Bob is living in a $2m house with an LVR of 25%.
Or let's use median's again. Duck, don't even start.
Median wage $77k (ABS)
Debt based on 206% = $158k
Median house price = $690k (Core)
LVR ratio = 22%
Dooms day crash 50% (HC bear corps)
New median house price $345k
Revised LVR = 45%
