comment: >
context: If they looked harder, they would be seeing it in a lot more countries as well. But in reality, the IMF is only concerned about the banking system and not the individual consumers who prop up the economy. >
  
  Yes, same could be said for Canada as well. >
  
  It’s coming >
  
  This is the best tl;dr I could make, original reduced by 74%. (I'm a bot)
  
  
  "As interest rates increase, affordability is declining rapidly, despite falling housing prices. In 2022, housing prices may be as much as 70% and 50% above what a median household can afford in New Zealand and Australia, respectively, and the average household would need to spend more than 40% of its disposable income to afford housing priced at the median."
  The IMF found Australia has one of the most severe "Housing cost overburden" rates, which is the share of the population spending more than 40% of its income on housing.
  "Since housing is a key determinant for health and education, and housing inequality can lead to perpetuating socio-economic inequality, restoring housing affordability and improving access to adequate housing, need to be priorities for policymakers in the region," the IMF said.
  
  
  Extended Summary | FAQ | Feedback | Top keywords: housing^#1 price^#2 rates^#3 affordability^#4 high^#5 >
  
  If they looked harder, they would be seeing it in a lot more countries as well. But in reality, the IMF is only concerned about the banking system and not the individual consumers who prop up the economy. >
  
  Yes, same could be said for Canada as well. >
  
  It’s coming >
  
  This is the best tl;dr I could make, original reduced by 74%. (I'm a bot)
  
  
  "As interest rates increase, affordability is declining rapidly, despite falling housing prices. In 2022, housing prices may be as much as 70% and 50% above what a median household can afford in New Zealand and Australia, respectively, and the average household would need to spend more than 40% of its disposable income to afford housing priced at the median."
  The IMF found Australia has one of the most severe "Housing cost overburden" rates, which is the share of the population spending more than 40% of its income on housing.
  "Since housing is a key determinant for health and education, and housing inequality can lead to perpetuating socio-economic inequality, restoring housing affordability and improving access to adequate housing, need to be priorities for policymakers in the region," the IMF said.
  
  
  Extended Summary | FAQ | Feedback | Top keywords: housing^#1 price^#2 rates^#3 affordability^#4 high^#5