Mortgage Cliff: Repayments are likely to 2x or 3x for 1.3 million households
What if the Australian property market is on the edge of a cliff, and you're one of the 1.3 million being impacted?
Imagine what it would be like if your mortgage repayments doubled or even tripled because of interest rate hikes. As challenging as that sounds, this is the reality for many Australians this year.
Is the dream of home ownership becoming unreachable for the younger generation? A new report suggests that those who don't buy a home by their early 30s are less likely to ever be homeowners.
This raises questions for those trying to step onto the property ladder but are priced out.
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