RBA hoses down calls that housing is unaffordable

RBA hoses down calls that housing is unaffordable. From an RBA submission ot the inquiry into affordable housing: At a macro level, pressures on affordability of both purchased and rental housing have eased somewhat since the previous Senate inquiry on this topic. The experience of specific groups in the population may, of course, differ. There is no shortage of housing finance in Australia. Mortgages are available at reasonable cost from a range of lenders, and households are not artificially constrained from borrowing as much as they can reasonably be expected to repay. Some of the (localised) examples of laxer lending standards seen in the years leading up to the global financial crisis have become less prevalent. This is a welcome development and should not be seen as an unwarranted constraint. The chart attached shows repayments on new housing loans well below the decade average. Here si the link to the full report: (VIEW LINK)