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I would argue that's relative. if wages were half what they are in Australia, borrowing capacity would reflect that, as would prices. But relatively speaking- prices would be just as expensive I guess at its simplest, what Im saying is that people have the supply v demand argument back to...

All the ingredients that created big growth ; 1. LVR's increasing through the introduction of LMI. In the late 80's, LVR's were at 80%. So if you had a 50K deposit, that represented 20% - meaning the bank would give you 200K. That = 250K budget. When 90% + LMI deals started in the early...