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Owners with a mortgage pay smallest proportion of income on housing costs since records began
Topic Started: 17 Oct 2015, 05:49 PM (3,533 Views)
Elastic
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Shadow
18 Oct 2015, 09:54 AM
The opposite is true. There were far more adults per dwelling in the 90s than there are today. From the ABS...

Number of dwellings 1991 Census = 5,852,246
Number of dwellings 2011 Census = 9,117,033

Number of adults (18+) 1991 = 12,711,312
Number of adults (18+) 2011 = 17,245,436

Number of adults per dwelling fell from 2.17 in 1991 to 1.89 in 2011.
That doesn't really tell us anything about households with a mortgage.
It is simply a reflection of the ageing population and more older single people, who have lost their partners, who generally don't have mortgages.
Only a rat can win a rat race.

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Strindberg
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Trollie
18 Oct 2015, 09:54 AM
Bingo! we all know that one would come out, always does when a number doesn't suit the bears :lol
Yes, the bears hate official statistics which screw their beliefs, so they prefer to make up and believe their own statistics. That way their dreams are not shattered.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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Ex BP Golly
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Strindberg
18 Oct 2015, 02:29 PM
Yes, the bears hate official statistics which screw their beliefs, so they prefer to make up and believe their own statistics. That way their dreams are not shattered.
Interest rates are the lowest they have been in the life times of those presently paying them, while those on interest only loans is at its highest rates ever.

The working week of the norm is also the highest it's been for ages as well, and yet the headline figures the bears are have a circle jerk over have hardly moved.

These figures will change dramatically when interest rates climb.

Edited by Ex BP Golly, 18 Oct 2015, 04:12 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Terry
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Strindberg
18 Oct 2015, 02:29 PM
Yes, the bears hate official statistics which screw their beliefs, so they prefer to make up and believe their own statistics. That way their dreams are not shattered.
I can group you into little tribes, green and yellow delineated along your allegiances, throw these "statistics" at you, and chances are you would say the same bollocks that you've said here, which is nothing more than a meaningless observation about a directionless trend that shows nothing and is not supported by statistical reasoning. Chances are that there is absolutely no significant difference in the annual proportion over 20 years. Any junior analyst with any kind of background in statistics should be able to tell you the same thing.
Edited by Terry, 18 Oct 2015, 04:28 PM.
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Shadow
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Rastus2
18 Oct 2015, 01:53 PM
More people working per household means mortgage only remains affordible if you measure gross household income and ignore the extra money flowing...
The number of people working per household has barely changed since the 90s.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Trollie
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Ex BP Golly
18 Oct 2015, 04:11 PM
The working week of the norm is also the highest it's been for ages as well
Crap!

Let's see you cough up a chart showing this increase in hours, take your time, I know you'll need it.
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Steve99
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Shadow
18 Oct 2015, 07:56 PM
The number of people working per household has barely changed since the 90s.
However the number of:
Factory workers
Fork lift drivers
Truck drivers
Supermarket workers
Accounts type people who work in the city but are not chartered accountants.
All other job descriptions of people who have traditionally been paid less than the national median wage.
All those that now get the median or less who would have been on higher pay in the old days.

Who could with a bit of effort buy a house off their own back pre the current bubble has diminished to almost zero. In fact they will not fit in your statistics of people paying a mortgage because a large percentage of them are renting from parasites, not buying as they traditionally would have done.

This is just another case of ring-fencing out the portion of the population that does not fit the narrative. This is similar to the job statistics which state that we have circa 6% unemployment without taking into account the mix of forced casual labour vs real jobs nor takes account of foreign workers on half pay (much bigger than 7/11). A bit like the USA where people not eligible for benefits and live under a bridge do not come up in the national unemployment/health/housing statistics etc
Im sure we will carry on down this track of head-in-arse view of the world until something real comes along to bite even the very much gilded 'haves' that have taken over Australian politics and media in the last 15 years or so.
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Shadow
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Steve99
19 Oct 2015, 08:00 PM
However the number of:
Factory workers
Fork lift drivers
Truck drivers
Supermarket workers
Accounts type people who work in the city but are not chartered accountants.
All other job descriptions of people who have traditionally been paid less than the national median wage.
All those that now get the median or less who would have been on higher pay in the old days.

Who could with a bit of effort buy a house off their own back pre the current bubble has diminished to almost zero. In fact they will not fit in your statistics of people paying a mortgage because a large percentage of them are renting from parasites, not buying as they traditionally would have done.

This is just another case of ring-fencing out the portion of the population that does not fit the narrative. This is similar to the job statistics which state that we have circa 6% unemployment without taking into account the mix of forced casual labour vs real jobs nor takes account of foreign workers on half pay (much bigger than 7/11). A bit like the USA where people not eligible for benefits and live under a bridge do not come up in the national unemployment/health/housing statistics etc
Im sure we will carry on down this track of head-in-arse view of the world until something real comes along to bite even the very much gilded 'haves' that have taken over Australian politics and media in the last 15 years or so.
Do you have data to back any of that up, or is it just your opinion?

Quote:
 
a large percentage of them are renting from parasites, not buying as they traditionally would have done
The proportion of rented households has barely changed since the 1950s, and I don't think forklift drivers etc. made up any greater share of home-owning households in the past.
Edited by Shadow, 19 Oct 2015, 08:25 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Ex BP Golly
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Trollie
18 Oct 2015, 09:54 AM
Utter rubbish
Huh?
These are ABS figures we are talking about here right?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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GloomBoomDoom
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MSE
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