A long-standing generational myth has been mathematically debunked by new analysis from KPMG, which shows that households are under greater mortgage pressure now than during the legendary interest spike of the late 1980s.
This was only “long standing” because the billionaire-owned media manufactured the myth to begin with.
I remember shutting my mum up after she mentioned it decade ago, by comparing the cost of repayments for her mortgage on a house in the 80’s, with the average repayments on a unit in 2016. I can’t remember the exact figures, but it was like "imagine paying 50% more than you did every month… and it’s not temporary. That’s at historically low interest rates, so your repayments are already the lowest they could be in that 30 year loan… and instead of a house, all you get is a 2 bedroom unit, without a yard or land.
17.5% of peanuts is still peanuts.
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