Housing Crisis Now Hits Middle Class

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Transcript

00:00You know, what's the average salary for an Australian?

00:04So salaries, the average salary is about $100,000 Australian dollars, which is just around $65,000 US.

00:12But the median salary is around $90,000 Australian, which is around $58,500 US.

00:20So, as you say, getting a mortgage or paying rent on that kind of salary is really difficult.

00:32And I lived in Sydney, and Sydney especially is, you know, so many people want to go there.

00:40Land is at a premium.

00:41You have the super wealthy people there in these incredible houses, but everyone else is moving further out and further out and further out.

00:51And what was interesting to me is that Michael Fotheringham, he's the head of the Australian Housing and Urban Research Institute.

00:59So he's come out and said, this isn't just an affordability problem for lower income households.

01:04This is very much a problem for medium income households as well.

01:08So, to be honest, I sort of took this to say that it's not just a poor person's problem anymore.

01:16We're putting the spotlight on it.

01:17Yes, that it's now, because it's now affecting the middle classes and perhaps even the upper middle class, that suddenly it's making headlines.

01:26So, it's good that it's making headlines, but also it's a shame that it's come to this point to have to kind of get the attention it deserves.

01:35So, this might be a very interesting question.