Housing affordability hits a new low

Housing affordability in Australia has fallen to its worst level on record, with new data showing homeowners in some capital cities are spending more than 60 per cent of their income on mortgage repayments. SBS Finance Editor Ricardo Gonçalves speaks with HIA Senior Economist Tom Devitt about what's driving the affordability crunch and whether easing home values could bring relief. Plus, with the Australian sharemarket closing lower despite an early lift from Wall Street and the Australian dollar hitting a four-month high, Jacqui Newman, Head of Capital Markets at Sharsies, breaks down the day's key market moves.