Tony Abbott has opened up to his friends at The Australian about how tough things are for him these days. The inconsiderate people of Australia weren’t taking Tony’s mortgage into consideration when they voted out the Howard government and delivered him a $90,000 pay cut.
But before we all start feeling too sorry for Tony and his family’s mortgage stress lets just take a look a little deeper into his situation. According to the article the Abbotts bought their present home in 1994, when Tony had only just entered parliament as a member of the opposition, so surely the personal responsibility preached by Tony and the members of his party would mean that he wouldn’t have borrowed more than he could afford. Add to this the fact that parliamentarians earn more in 2008 than they did in 1994, more than keeping in front of inflation and interest rate rises. So really, Tony isn’t in danger of losing his home just yet. Besides which, being a frugal and responsible person, Tony surely would have used some of his pay rises to increase the repayments on his home wouldn’t he?
But if Tony was feeling the pinch there’s more good news for him, the median house price in his suburb of Forestville is over $760,000, which is more than double the price he paid for the home in ’94, meaning that Tony will be the beneficiary of a substantial tax free capital gain when he moves. And while $350,000 was enough to get Tony a home in the leafy North Shore, today, thanks to a housing bubble exacerbated by the former government, that amount of money will see you moving all the way out to Bonnyrigg.
Let’s also not forget that Tony’s new salary of $127,000 a year, plus car and other perks, is about four times the median wage in Australia today.
So from one home owner to another, Harden the F%*k Up Tony.