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<br>Baby boomers had it much [simpler](https://roostaustin.com) than the more youthful generations buying a house - regardless of needing to pay exorbitantly high rate of interest.<br>[consumersearch.com](https://www.consumersearch.com/technology/need-know-residential-telephone-directories?ad=dirN&qo=serpIndex&o=740007&origq=residential) |
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<br>The generation born after the war were hit with massive 18 per cent interest rates back in the late 1980s.<br> |
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<br>Those repayments were crippling, when they were maturing in the seventies and eighties, but homes were substantially cheaper compared with typical incomes.<br> |
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<br>That was likewise back when Australia's population was nearly half of what it is today, long before yearly migration levels skyrocketed.<br> |
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<br>Baby boomer economist Saul Eslake bought his first home in Melbourne's St Kilda East for $105,000 in 1984 on a $35,000 salary when he was 26, after gaining from free university education.<br> |
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<br>With an $80,000 mortgage, he was obtaining little bit more than double his pay before tax and hits out at any idea his boomer generation did it tougher - regardless of the high rate of interest he paid.<br> |
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<br>'I paid eighteen-and-a-half percent for some of that however my first home cost $105,000 and it took me less than three years to save up the deposit,' he informed Daily Mail Australia.<br> |
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<br>['Despite](https://bedsby.com) the fact that rates of interest are less than half what I was paying, it was nowhere near as difficult as now and I didn't have HECS debt to settle since I belonged to that lucky generation when it was complimentary.<br> |
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<br>The [generation born](https://slinfradevelopers.com) after the war were struck with huge 18 percent interest rates back in the late 1980s (envisioned is Terrigal on the NSW Central Coast)<br> |
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<br>'My generation had it quite simple - we secured free education, we got housing really cheaply and we have made a motza out of the boost in house prices that we have voted for.'<br> |
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<br>In 1980, Sydney's mid-point priced home expense $65,000, or simply 4.5 times the average, full-time male wage in an age when a female would have a hard time to get a mortgage without a signature from her spouse.<br> |
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<br>Real estate data group PropTrack approximated [Sydney's typical](https://www.machinelinker.com) house would cost $338,000 today, or just 4.3 times the typical salary now for all [Australian](https://mckenziepropertiestrnc.com) employees, if house prices had increased at the same pace as wages during the past 45 years.<br> |
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<br>In 2025, [Sydney's middle-priced](https://shofle.com) home costs $1.47 million or 14.3 times the average, full-time wage of $103,000.<br> |
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<br>But that price-to-income ratio surges to 18.7 if it's based upon the average income of $78,567 for all employees.<br> |
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<br>AMP deputy chief economic expert Diana Mousina, a Millennial, stated the younger generations were having a harder time now saving up for 20 percent mortgage deposit just to buy a home.<br> |
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<br>'The problem now is simply entering the marketplace - that's what takes the larger piece of trying to save |
