Mortgage stress to hit home at election

Enough said. (And Jessica Irvine at the SMH is not running a RE industry market-pumping story for a change, very strange, what could have lead to this change of heart?)

MORE than a third of NSW families with a home loan live in a state of 'mortgage stress', devoting more than 30 per cent of their gross income to mortgage repayments.
This is a massive increase since the 2001 federal election, when the proportion was less than a quarter. Mortgage stress has since risen in every NSW electorate, unpublished census figures show. As housing affordability firms as an election issue, the figures reveal the high level of financial stress confronting many families.
At the same time, buyers are finding it increasingly difficult to get into the market. A survey of 1000 first-home buyers by mortgage broker Mortgage Choice found almost one-third did not expect to buy a home until they were aged 40 or over, and fewer than two in five expected to have secured a home before 30.
NSW is home to the greatest mortgage pain - the figures show 33.2 per cent of families with a home loan live in mortgage stress.

Mortgage stress to hit home at election