The proportion of home ownership has fallen from 71 per cent to 67 per cent over the past 20 years, he says, accompanied by a steady increase in housing prices, and in housing prices relative to income.
Fed Treasurer Morrison states: "However, it would be wrong to suggest that these price impacts have been consistent across the diversity of the many housing markets that exist across Australia", noting that Sydney and Melbourne prices have grown by almost 10 per cent in the past year, but Perth and Darwin prices have fallen by up to 7 per cent.
The largest falls in home ownership over the past 20 years have been in Queensland and Victoria, rather than NSW, which declined only slightly more than Western Australia.
There are also big differences in income spent on mortgage payments among age groups, with the amount spent increasing by more than half for 25 to 34-year-olds between 1981 and 2011 and more than double for 35 to 44-year-olds, with each paying around 25 per cent or more of median household income on their mortgages.
Where are the true figures Mr Morrison relating to "highest debts in the world" and 141% LVR home ownership due to
Ponzi Financing by Cartel Bankers?…stop cherry-picking the stats. Australians want truth not SPIN.