Separate data from Canstar shows that the average mortgage repayment has risen from just $2,570 a month to $4,151 since the Reserve Bank started increasing the cash rate in May 2022.
That mortgage is $50,000 a year after tax. You would need an income of $200,000 to pay that based on historic 25% payments.
Your kids will still get a house if the parents bought one many years ago...................it just means they wait until they are 60 and hope the have been included in the will.
