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Back in 2008 we had this debate. Me & the RBA thought your metric was rubbish then, and we still think it's garbage now. BTW since yesterday another 350 FHB families were able to afford a home :D... so that's me, the RBA and another 8000 families since May reckon housing is still affordable...

Every day another 400 families can afford to buy a 1st home. Housing remains affordable - when it stops being affordable, people will stop buying & price will stop rising. Based on the trend of the last 25 yrs do you think it will be any time soon ? That's why we here. Your affordability...

The ABS graph for the last 25 yrs clearly shows 7-8000 FHBers being able to afford a house every month. That's about a sample size of over 1,000,000 families. Surely that is sufficient to convince you that affordability is pretty much the same as 25 yrs ago.

Last month 7000 families didn't care much about that. The month before 8000 FHBers didn't care about that hypothetical point either. Back in Jan there were another 8000 FHBers that overcame adversity & saved for a deposit. 8000 FHBers for every month of 2014 didn't think it was a biggie...

Oh no it doesn't..... ....this chart tells the real story.... (sourced from ABS) It shows the actual number of FHBers each month for a couple of decades. These are actual people buying real houses. Every month 7 or 8 thousand FHBers actually stop spending $$$ on 'stuff' and buy a house...

Are you suggesting that the govt should legislate to prevent the current generation spending $$$ on cheap flights/iPhones and instead start saving to buy a roof over their head ? Because if you want to make things just like they were in previous generations, that would be a great policy.... :D