More than one in six home owners have little or no clue how the lift in cash rates will impact on their budgets, while almost a third do not consider that the cash rate will increase at all when budgeting for a home loan, a new poll shows.
About a fifth of home owners with mortgages have no clue at which point the Reserve Bank of Australia’s cash rate will cause them “significant mortgage stress”. Of those who are aware, more than half expect to go into “significant mortgage stress” if the RBA cash rate hits 3 per cent. “With increased cost-of-living pressures, there’s no doubt this is a stressful time for many Australians, particularly mortgage holders,” Ms Sorrenti said.
Aussie found that only one in seven of the mortgage holders have taken action to review their home loan since the first cash rate rise.
Balloon goes pop
Most people I know is buying another house which is at least 800k.
If only we were warned about the level of liarloans in this country. (UBS est. at $500b). auspol lostdecade 🇯🇵
Nonsense - that’s still below the stress test levels. If that’s what makes or breaks you, you’ve borrowed too much
Another fake survey
Ponzi schemes that completely dominate a nation’s economy and collective psychology are great until… actually no they’re never great, even worse when they inevitably fail
This is nonsense. Financial Review should know better.
Good
Guess who doesn’t lose: banks, financiers, real estate agents, removalists to name a few
When you run a property ponzi economy...
The cost of housing is disgraceful. This is what decades of cheap debt has done. The inflation genie is out of the bottle….. what now?