However, Mr Plank, too, is relatively relaxed about the effect rising mortgage repayments will have, given so few Australians are out of work.
"It also suggests house prices will fall by more than the 15 per cent, or so, we currently anticipate to the end of 2023. "Many families are already under the pump with skyrocketing grocery and petrol costs. Hefty increases to mortgage repayments, on top of this, could tip some into the red."However, Ms Bullock also said it was important to know who was holding the debt, because not all borrowers were alike."If we look at the households that have debt, almost three-quarters of debt outstanding is held by households in the top 40 per cent of the income distribution," she said.
RBA says interest rate rises aren’t an issue as long as payments don’t increase.
When taxpayers pay RBA Gov P.Lowe and his assistant over $2M pa, one would expect COMPETENCY !
What does that mean? With wages remaining low for over a decade, it cam only indicate that they are starting to drain people's savings. You will have nothing...
? Higher inflation rates hurt the poor and RICH people. Higher interest rates mainly effect the poor. auspol ?
The RBA?! 🤣
🤣🤣🤣🤌🏻
Tell them they are dreaming! 😕
Well, I highly doubt that anyone at the RBA is going to struggle to pay their mortgage. Elitists gonna elite.
Higher rates mean less money in the economy....
Honestly, anyone that took out a loan with variable interest when interest rates were at rock bottom must have known this would happen. They couldn't stay at rock bottom forever.
Are they smoking something...
Seriously out of touch is the reserve bank if they think this. Basically they want consumers to stop spending except their mortgage. Who does this benefit The Banks Only
Remember the 18% cash rate in the ‘80’s.
Said the guy on two hundred grand a year.
Are these the same people who said Inflation wasn’t a worry and it was “transitory”?
At last we might start getting a low risk decent return on our savings. 6-7% would work.