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Baby boomers had it a lot easier than the younger generations buying a home - regardless of having to pay exorbitantly high rates of interest.
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The generation born after the war were hit with massive 18 per cent rates of interest back in the late 1980s.
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Those payments were crippling, when they were maturing in the seventies and eighties, however homes were substantially more affordable compared with common [incomes](https://www.vibhaconsultancy.com).
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That was also back when Australia's population was practically half of what it is today, long before yearly migration levels soared.
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Baby boomer economist Saul Eslake bought his first home in Melbourne's St Kilda East for $105,000 in 1984 on a $35,000 wage when he was 26, after taking advantage of complimentary university education.
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With an $80,000 mortgage, he was borrowing bit more than double his pay before tax and hits out at any tip his boomer generation did it tougher - regardless of the high interest rates he paid.
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'I paid eighteen-and-a-half per cent for a few of that but my first house cost $105,000 and it took me less than three years to save up the deposit,' he informed Daily Mail Australia.
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'Despite the fact that interest rates are less than half what I was paying, it was nowhere near as tough as now and I didn't have HECS financial obligation to settle due to the fact that I was part of that fortunate generation when it was complimentary.
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The [generation born](https://syrianproperties.org) after the war were hit with huge 18 per cent rate of interest back in the late 1980s (envisioned is Terrigal on the NSW Central Coast)
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'My generation had it quite simple - we got totally free education, we got [housing extremely](https://jacorealty.com) [cheaply](https://lebanon-realestate.org) and we have made a motza out of the boost in home prices that we have actually chosen.'
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In 1980, Sydney's mid-point priced house cost $65,000, or just 4.5 times the average, full-time male wage in a period when a woman would have a hard time to get a mortgage without a signature from her spouse.
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Real estate data group PropTrack estimated Sydney's typical home would cost $338,000 today, or simply 4.3 times the typical income now for all Australian workers, if home rates had actually increased at the same speed as wages throughout the past 45 years.
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In 2025, Sydney's middle-priced house costs $1.47 million or 14.3 times the average, full-time salary of $103,000.
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But that price-to-income ratio surges to 18.7 if it's based upon the typical income of $78,567 for all workers.
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AMP deputy chief financial expert Diana Mousina, a Millennial, stated the younger generations were having a harder time now conserving up for 20 percent mortgage deposit just to buy a home.
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'The problem now is simply getting into the [market -](https://alranimproperties.com) that's what takes the bigger portion of trying to save
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