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1.Market Observations, 8.Was Sticky

23 May 2017 (AFR) – Big mortgages squeeze home buyers’ basic living costs

(23 May 2017, AFR, p5, by Sally Patten)

‘Borrowing six times a household’s salary to buy a property would make it difficult for many people to cover even basic living costs, says financial adviser Adele Martin of Firefly Wealth.’ <snipped…>

‘She was speaking after a report by investment fund JCP Investment Partners found that the average loan-to-income ratio of heavily indebted households was 6.4, more than double the old banking “rule of thumb” that mortgage managers didn’t lend more than three times a household’s income.’

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