Statistically we're filthy rich... if only stats could pay the mortgage! I've been listening to and reading RBA's announcements for years now and none that I can remember ever made any sense to me -certainly not as an average denizen of this country: worked bl oody hard, saved as much as was possible, bought a house and a car (absolute necessities for anyone with a family) and, generally watched my pennies. If you're to classify me according to the "market value" of my house then I'd be called rich; but only when I'd sell it and only if I didn't have to buy another house! As for the newbies in the housing market, well, they'd have to be making $100kpa wouldn't they? "Boom times" must mean something else than what I think it does -or did, once upon a time!
