Sometimes just one figure is enough to explain what seems to be inexplicable – the continuing rise of Australian property prices despite a recession, a pandemic and worsening unemployment. That figure – which was produced by AMP Capital – is that the share of household income being used to pay interest on debt has fallen to the lowest level in 35 years. That is a very big deal because it effectively drops tens of billions of extra dollars straight on to the household bottom line, despite the economic difficulties posed by the pandemic. Loans have never been this cheap to service According to the figures, … (full story)
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