Yeah mate, agreed. Taken from RBA commentary, "Almost a quarter of people with a new loan owed the bank at least six times what they earned, official data from the banking regulator has revealed. And, with the median Australian house and unit price now at $698,170, an average-income earner would struggle to repay their loan.Even with a 20 per cent deposit, a full-time worker on a $90,329 salary with a $558,536 mortgage would have a debt-to-income ratio of 6.2 – considered “dangerous” by the Australian Prudential Regulation Authority (APRA)."
Scomo isn't doing himself any favours and seems to be shifting away from his voter base that solidified his spot last election in an attempt to appease both sides. It's incredibly frustrating considering that Albanese is on track to win convincingly, which in itself is concerning.
