This is quite an interesting article.
Record mortgage stress ahead of rate cut
*Exerpt*
On average, families across Australia are paying 38.9 percent of their income in mortgage repayments. Those paying more than 30 percent of their income are considered to be in mortgage stress.
"The situation is most severe in New South Wales and Queensland, where the proportion of income required to meet loan repayments increased to 42.6 percent and 41.0 percent respectively"
How do people sleep at night when they are paying nearly half their wages for just the roof over their heads Why on earth would you put yourself under that much pressure!!
Record mortgage stress ahead of rate cut
*Exerpt*
On average, families across Australia are paying 38.9 percent of their income in mortgage repayments. Those paying more than 30 percent of their income are considered to be in mortgage stress.
"The situation is most severe in New South Wales and Queensland, where the proportion of income required to meet loan repayments increased to 42.6 percent and 41.0 percent respectively"
How do people sleep at night when they are paying nearly half their wages for just the roof over their heads Why on earth would you put yourself under that much pressure!!
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