Lately there have been worries that many people won’t be able to afford a house. Houses are the most expensive things that most people will ever buy. The average Australian house at the moment costs around 650,000 dollars. Most people don’t have enough money to buy a house at this price so they borrow money from the bank and then they have to work hard to pay the bank back. They also have to pay interest which is the money that you owe the bank for allowing you to borrow from them. Houses are now 30 times more expensive than they were 40 years ago but Australians only get paid 10 times more than they did 40 years ago. Sydney and Melbourne are 2 of the cities with the least affordable houses. I now understand how expensive houses actually are and the struggles you have to go through to buy them.
Link to the video – http://www.abc.net.au/btn/story/s4667329.htm