Australians’ mortgage payments hit high not seen since before GFC, data shows
by Jonathan Barrett Senior business reporter from World news | The Guardian on (#6PZAQ)
The average mortgage holder is parting with more than a fifth of their pre-tax income, double what they were spending in the 90s
Mortgage holders are spending well over 20% of their pre-tax income on their loans, representing one of the highest levels on record, data compiled by Commonwealth Bank shows.
It has rocketed in recent years amid rising interest rates and high living costs to a level last seen two decades ago when frothy property prices took hold before the 2008 global financial crisis.
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