bears say it like it is, page-6

ol blue eyes,

I have heard this '9 times the average wage' line rolled out a lot lately.

The average wage is now $67860 (ABS May2011)
The average mortgage in Jun 2010 (the latest data I have)was about $370k (ABS Jun2010)

So, I have that at about 5.5 times the average income.

Cheers,