Saturday, January 19, 2013
The path to economic recovery?
Lower house prices have increased mortgage affordability, meaning homeowners have more money in their pockets. According to the Halifax Affordability Review the proportion of income spent on mortgages is now down to 28 per cent, far less than the 48 per cent average in 2007. The practical economic effect of this is increased disposable income, which can allow for higher consumer spending.