Comments by "John Woodrow" (@johnwoodrow8769) on "Albanese deals with ‘friendly fire’ from Keating" video.

So basically Albanese, Miles, and Wong have no answers to Paul Keating's valid questions and comments. They have no answers because Keating is 100% correct. Albanese couldn't lead an under 12 Rabbitohs football team onto the field. The contrast between the intellectual capacity, wisdom, and insight of Keating v Albanese is simply worlds apart.
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The best financially thing that happen for many Baby Boomers was 18% mortgage rates. Set them up financially for life. If you don't understand why, I'll just let you try and figure it out.
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@leed206 You basically got it correct. House prices at that time reflected the 18% interest rates. And as the 18% didn't last all that long, anyone who maintained the same repayments they had learned to live on when they were 18%, owned the house outright in just a few years. At the same time, with the falling interest rates, the value of the home went up quickly. So rather than hurting everyone, people who bought around the time of those record high interest rates, and were disciplined, actually did extremely well.
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@leed206 Any remember wages were going up regularly at that time in direct response to high inflation. So each year you could count on having an extra 5 or 6% more money in you pocket. It IS much tougher now, I'm the first to admit that. High house prices, high cost of living, stagnate wages.
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