sr71

Yeah, that's probably around $3000pm. So I reckon you'd need to be on a family income of $140K+ to be able to afford that and live like a normal person.

And the figures don't back that up if you look at the stats about average family incomes etc.

Must be a hell of a lot of stressed people out there.

king kong

thats for sure , with interests rates going up ,it isnt good

MartinLuther

You probably can't compare average new mortgages with average family income. It would have to be average mortgage.

king kong

i guess thats right , but i suppose its like comparing incomes . If one is earning 25000 a year and one is earning 75000 a year then the average is 50000.
I suppose inregards to what people are interested in on this site is the averages for them selves . Say for instance a bricklayer fresh off the plane , what can he expect to earn a year , i would hazard a guess at around 50000 a year would be fair .
Afair few of new migrants are tradespeople as this is what australia requires ,so our imaginary bricklayer with no deposit and no second income and a couple of kids would be lucky to raise 200000 on a mortgage .
He would have to be bringing minimum 250000 in cash to get a look in on a house and stay within the area where he can find work.
Im not sure wether its been done but maybe somekind of thread stating income for particular jobs should be put up , certainly with the minimums they will earn as i believe this is what people should be focussing on , worst case scenario and everything above is a bonus type of outlook .

BadgeIsBack

I've decided that average is just plain meaningless

I never understand where people get their money from to be honest. I decided a year ago that everyone was going to be f**ed. People floating around like swans would turn out to be thrashing around under the surface. Yet, here we are, and few people I know are going under and life seems to continue as always. Infact, I've banked 35k and got a 10pc pay rise as a result of this blip in the economy.

Maybe it is a different story down the road in Narre Warren and on the new builds where people starting out are mortgaged to the hilt.

ABCDiamond

Actually the figures do back it up.

The combined average wages for a full time male and a full time female in NSW was $137,456.80 in May 2009. These are probably the ones that are getting mortgages of that size. And remember, that figure is for all of NSW, not just Sydney.

The "average family income" that is often quoted at a lower figure, includes many people who are part time workers etc., and who do not get these mortgages. Not all of the 'average families' get mortgages, it tends often to be the higher double income families that can afford it.

It is a case of comparing the right averages each time.


I agree about a lot of stressed people out there, though. But they often choose that stress themselves, by needing what they want.

JCSUPERMOTO

Anyone know the live rate today?
Gotta exchange a bit more money today!
Cheers

Rossi

1.7580

Damson

Hi, if you go to Hifx.com and select the "Marketwatch" button at the top far right corner you will see the live market rates. When I looked a moment ago it was $1.78. Good luck.

swigski

$1.8 and rising this afternoon

swigski

Take a look at this link.

It's interesting to see that although OZ may have a lower deficit per % oF GDP than America, the amount of stimulus as a % of GDP is one of biggest in world!

http://news.bbc.co.uk/2/hi/business/8214272.stm

Catch

well spotted,this is something the Aus media care to not notice.

MartinLuther

I noticed The Australian was trying its best not to notice when it said "the Rudd Government's $42 billion fiscal stimulus package - large as it is by international standards"

http://www.theaustralian.news.com.au...8-7583,00.html

MartinLuther

And that matters because?

swigski

If you really need to ask that question, is there any point trying to explain??