those bank 'models' are very interesting and quite revealing Kincella.
basically you have discovered that for an average family to buy a house it requires two incomes.
that was definately not the case when I bought my first house back in the '80's. then I got an inner city terrace in Melbourne/Collingwoood for 2.5 times my income at the age of 22 years.
this same terrace is now valued at $750k. over ten times the average wage. big deterioration in affordability here.
no wonder we have created a generation of debt slaves. count be out though. I would not risk enslaving myself at over ten times my income for a property when the historical average is that homes cost 2.5 times income.
