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Write 6 pages with APA style on Housing Market in Australia. Bourassa (1996) has stated that the measures required for identifying the affordability of housing-ownership are primarily based upon the accumulated data but it is required to ignore the distribution of wealth and income as well as the ranges of housing prices. For analyzing the trend of housing pattern in Australia, Bourassa (1996) builds a study based upon the previous research of Grigsby and Rosenburg. The study then proposes a method of Borrowing Constraint. The method of Borrowing Constraint was applied from the year 1989 to 1990 for household survey data for Melbourne and Sydney, Australia. The results concluded that there are hypothetical changes in interest rates and deposit requirements are kept a minimum. Along with these results, furthermore, it had been concluded that under any given scenario, there is the very diminutive percentage of people who are living in rented households to afford private ownership without putting themselves into the circle of poverty (Bourassa).

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