Interest rates are rising because we're told households can manage it, but the data suggests otherwise

And while its liaison program has hundreds of businesses on its register, including entities that represent thousands of businesses, it only made contact with about 60 businesses to determine earlier this year that it had seen "larger" increases in wage growth. Only a proportion of those businesses suggested this was the case.

It's the most robust data collection of wage growth outside of what the Bureau of Statistics produces.NAB's chief economist, Alan Oster. For example, many Australians don't have an ongoing position that delivers nice, neat pay rises into their account. Others have two — or more — jobs.

No kidding. Poverty continues to increase dramatically whilst the financial elite devour and swim in their luxurious swill 😤

If you got a mortgage based on rates never changing then you are a financial fool

10 yrs ago a home loan interest rate was above 6%. It was higher then what the current interest rate is now. In saying that, houses weren’t selling at ridiculous prices. With the current rates rises,it means house prices can slowly get back down to being some sort of reasonable.

Jimbo… no plan, no idea. In the treasurers own words… we just have to weather it.

during election Jim & Albo kept saying we have a plan. where is the plan? the debt was known to all before the election so this is no excuse. a plan is not saying it will get worse before better - perhaps the gov should start saying it will get worse before it gets even worse!

Rigged presidential elections have consequences.

Chalmers argued so well against the LNP /IPA Rats Nest that I now find him to be a bit of a let down.

Chalmers has had at least three pay rises in the last 4 years. What would he know.

Paul_Karp Curious as to why this story with this headline would have a photo of the Treasurer rather than the RBA Governor, given one has the power to impact the problem identified and one doesn’t.

But it's ok, the stage 3 tax cuts are going ahead for the wealthy. The rest of us don't matter anyway

Could you imagine if interest rates where raised based on a systematic level of how much one earned? Ie the rich get higher interests, the poor get lowest interest. Ask any economics professor and they say it’s possible. However the rich are always in power it’ll never happen.

More homeless is what will happen

🤞Please be 0.75% or better yet a full 1% would be nice.

Too much debt is the borrower's problem.

Excellent. From time to time, overspending, over borrowing and irresponsible Government spending results in these outcomes. Not before time and a reality check the country and Australians need.

No, they are raising because we need to bring inflation down. We either do the job quickly with rate raises, or we let stagflation do it slowly. At least with raising rates, we can cut them again to get things going onec we have inflation under control

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$70,000 home loan ‘loyalty tax’ netting banks $4.5bThe big four are making billions a year by charging higher interest rates to loyal customers as they fight hard for new ones, data from Lendi reveals.
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High-end prices falling four times faster than averageHouse prices in some top-tier markets are falling four times faster than the national average as the downturn deepens amid rising interest rates.
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