"You are far better off to be in control of your destiny than allowing the bank to take control as they will act in their own interest and that of their shareholders.""There is no advantage in holding off and hoping, when we don't know what the market will likely be after the stimulus payments stop," he said.Data from Digital Finance Analytics shows 37.5 per cent of borrowing households are in mortgage stress, equating to around 1.4 million households.
Mortgage stress is typically defined as when repayments exceed 30 per cent of a household's income, however DFA works on the basis of total cash in, cash out. Of the 1.4 million households, more than 10 per cent are deemed to be in "severe stress" with the probability of defaulting on their mortgage as likely within two to three years.
You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the
LesStonehouse The banking cartels caused the economic crash, they got bailed out by the people, the people who all lost their jobs! Instead of doing what Iceland did which was JAIL the banksters, nationalise bank, bail out the people with debt jubilees & evict corrupt pollies. we get Austerity
Great, let the prices drop. Housing should never have been a speculative bubble. Very negative for a society.
I blame twump, twuuuump!!! Froth, screech, hiss okkaren