Election winner must fix up housing issue, page-65

@kingpins
The OP mentioned 21% interest rate which was when the cash rate was the highest in 1990 (17.5 Cash Rash Rate)

Back in March 1990, the standard variable rate may have been 17-21 percent but the average mortgage was only $71,000. Against a backdrop of average weekly earnings of $523.60 for an average annual salary of $27,227, in 1990 mortgage payments made up 44.99 percent of income.

https://finance.nine.com.au/personal-finance/rates-1990-versus-2007/bb5d3c99-cd59-4f81-aaa1-f5bf02cabc99#:~:text=Against%20a%20backdrop%20of%20average,up%2044.99%20percent%20of%20income.

Dont let the facts get in the way of a BS story.....perhaps you need to go to school and learn how to google your facts

it is stupid to take out a loan at 21% when you can save for a few years and buy a property outright.

That would like buying a car now with a credit card opposed to saving a little bit to pay for it out right.