how many hours do you have to work for a house

another angle of looking at it(article talks about minimum wages but this part is interesting to our little forum):

"We won't get sidetracked, but take this revelation from the Herald Sun:

"Australians have to work almost three times harder to pay off the average family home than they did 50 years ago... homebuyers on the average income now have to work for 19,374 hours to buy the average Australian house with the average mortgage... In 1960, it took homebuyers just 7500 hours to pay off the average mortgage."

Take into account other increases in the cost of living and the devaluation of your money, it's no wonder the quality of life hasn't improved."


http://www.moneymorning.com.au/20100312/no-difference-between-pay-equalisation-and-minimum-wage-legislation.html#more-2921