Stephen Mayne

speaker

4,460 appearances 12 recordings 1 series first heard Apr 2026 last heard 2d ago

Stephen Mayne’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

Appearances

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The Money Café with Alan Kohler · Housing's Perfect Storm · 8 Sep 2026 podcast

It's another argument for universality.

I agree with that.

Yeah.

And I also say that the marginal income tax rates in Australia are brutal.

and there's far less subsidies for the young versus the old, and we need to tilt back the generational differences there.

And it's just too tough.

bringing up kids and being a professional income earner today because the tax system is brutally against you, including the childcare, the loss of the subsidy.

So we're sympathetic,

And there's a bigger problem now, I'd say, because sure, the serviceability might be the same from a cash flow point of view, bigger debt, lower rate.

But in terms of paying back the principal, it's going to take you twice as long because your debt is so much higher.

So it's no good just being able to service people

alone, you need to be able to pay it back as well.

And if you've got to borrow double the amount you used to relative to your income, then you're going to have your loan for twice as long.

And this is partly why we've got $3.5 trillion of household debt.

Well, I mean, probably 3.5 trillion in household debt because we've got 4.8 trillion in the super.

So people think they can borrow more because they're rich from super.

But look, you're right.

People can carry more debt, but the balance sheet impact means that if there's a house price reduction of 20%, then that really exacerbates the impact as well because you're carrying so much debt on your house.

$350,000 on average across all houses in Australia.

$350,000 average household debt.

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