My parent's spec built home in Sydney cost $19,000 in 1967 and the principal of my primary school earned about $120 pw.......so the house was worth 158 weeks (3 years) of a good middle class wage.
These days the principal of the same primary school maybe on about $120K p.a. and the house (if repaired) is worth maybe $1.2m which is 10 years of that good middle class wage.
It's not a great house by current standards BUT if a school principal can't sensibly afford it ........ who can?
The answer is anyone ..... perhaps including your Uber driver while interest rates are at 4000 year lows and the banks remain keen,
