Demographia international housing affordability study 2008

[ani]

http://www.demographia.com/dhi.pdf

 

[tubs]

Thanks for the link. I read the summary this morning.

The question is, what IS affordable. Who decides that at a certain number times your wage, property becomes unaffordable.

Is it 3 times you wage?

Is it 7 times your wage?

Hell, if could even be 50 times your wage!

Yes, each time house prices or interest rates go up, some people suffer. But at the moment, there's plenty of people who can afford it who come in and buy them.

I think the concept of 'mortgage stress' is a bit stupid too. Who actually decides that at 30% of your wage, you're in 'mortgage stress'???

Whatever sells newpapers I guess...

 

[FrankGrimes]

Few random thoughts...

Wheres the rest of Europe and Japan? Would tell a more similar story to Australia.

Alot of the American cities which have very low multiples also have high unemployment, economy in decline.. Eg. Cleveland, Detriot

I don't know alot about Canada so can't really comment

 

[DavidMc]

Once again:

Australian and New Zealand homes are the least affordable in the world, according to a US-based survey of 227 cities.

The 2008 Demographia study of international housing affordability listed 18 Australian cities in its top 50 of severely unaffordable markets.

The study rates housing affordability in the English-speaking nations of Australia, New Zealand, Canada, US, UK and Ireland.

http://www.theage.com.au/news/natio...ustralian-dream/2008/01/20/1200764081322.html

'The world' = Australia, New Zealand, Canada, US, UK and Ireland.