000			01898cab a2200325 4500
001			ABS68551
008			041206n2004 000 0 eng u
035			_a(Sirsi) u128204
100			_aVass, J.
245			_aAffordability: testing times ahead
260			_c2004
490			_aHousing Finance _v(63) Autumn 2004, 34-44 (11)
520			_aExamines different housing affordability indicators covering both access to and the sustainability of home ownership to provide an overview of current housing market trends. Considers the background of house price growth and the worsening of housing affordability since the 1980s according to the Barker Review. Looks at how deposit constraints are preventing first-time buyers entering the market and how households are being denied access because of low incomes. Considers the sustainability aspect of affordability in terms of homeowners ability to service debt and discusses debt erosion in respect of established mortgage holders. Concludes that affordability will worsen and will be the primary driver in the market slowdown. Charts cover long run house price growth, first-time buyer ability to pay, house price to earnings and disposable income ratios, initial mortgage payments, regional affordability and inflation rate impacts on debt and earnings. References.
590			_aABS
650			_aHOME OWNERSHIP
650			_aDEBT SERVICING
650			_aDEBT EROSION
650			_aINTEREST RATES
650			_aDISPOSABLE INCOME
650			_aHOUSING SUPPLY
650			_aBARKER REVIEW OF HOUSING SUPPLY: SECURING OUR FUTURE HOUSING NEEDS
650			_aAFFORDABILITY
650			_aAffordable housing _96215
650			_aHOUSE PRICE INFLATION
650			_aFIRST-TIME BUYERS
650			_aINFLATION RATE
650			_aMORTGAGE PAYMENTS
690			_aPROPERTY-RESIDENTIAL PROPERTY-RESIDENTIAL PROPERTY MARKET
942			_n0
999			_c74651 _d74651