Do you think that people have taken on too much mortgage debt? Or will they eventually pay it back?
We knew that it was bad but certainly not this bad. Despite excessively low interest rates, Australians have bit off more than they can chew. We are now seeing the breaking point for many who took on way too much debt and now can’t afford to pay it off. This is going to end very badly as people learn the consequences of their actions.
Mortgage refinance rejection spike exposes number of Australians in debt distress – ABC News (Australian Broadcasting Corporation)
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www.abc.net.au/news/image/10175316-3×2-940×627.jpg
Mortgage refinance rejection spike exposes number of Australians in debt distress – ABC News (Australian Broadcasting Corporation)
Young Australians hit by falling wages, surging house prices as wealth gap widens: HILDA report – ABC News (Australian Broadcasting Corporation)
www.abc.net.au/news/2017-08-02/hilda-household-survey-showcases-battle-between-young-and-old/8764406
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www.abc.net.au/news/image/8764808-3×2-940×627.png
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www.abc.net.au/news/image/8766390-3×2-940×627.jpg
World’s priciest home market pushes millennials beyond the law – BNN Bloomberg
www.bnnbloomberg.ca/world-s-priciest-home-market-pushes-millennials-beyond-the-law-1.1128822