Housing affordability is currently the worst it's ever been, and newly released data from http://www.demographia.com/dhi.pdf reveals just how bad this crisis has become. In the report, all Australian cities are rated as severely unaffordable and Sydney and Melbourne were rated in the top 5 least affordable cities out of 92 cities compared across 8 nations. Here's the full affordability table from the report:
Even middle-income earners are struggling just to afford a home (without outside assistance). If housing affordability continues to deteriorate at these levels, we could see a massive section of our community never able to realise home ownership, and this is a disaster IMO.
