yes Mr Steve I totally understand what u are saying.However I...

yes Mr Steve I totally understand what u are saying.

However I disagree with you on interest rates.

They will come down late 2008/early 2009.

RBA even put rates on hold last month.
Retail spending has slowed

And the wages debate......

Wages should be looked at against current homeloan liabilities, not property prices.

The average homeloan is $315,000
The average house value is $486,000



lets use 10% interest rates

$31,500 per year or $656 week

The average wage is $714 week (net)

Then the second parent does 25 hours x $25 hour (450 nett)

So $500 week plus to live on.......not exactly starving.

Get rid of their credit cards, drinking habits and big TVS.

First home buyers.....yes its tough for them.....but thats life.