Australia’s mortgage burden is now above 1989 levels – when interest rates were 17%

Australian homebuyers are now carrying a heavier mortgage burden than they did in nineteen eighty-nine, when interest rates climbed to seventeen percent. New analysis from KPMG challenges the familiar refrain that older generations had it harder when buying and paying off homes. Despite today's lower rates, the combined weight of mortgages across the country has exceeded those peak-rate levels. The findings suggest housing affordability isn't just about interest rates—it's about the deeper mismatch between home prices and household income.

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