RBA reveals scale of Australia’s mortgage crisis in parliamentary hearing

The Reserve Bank has revealed the frightening scale of Australia’s looming mortgage crisis at a parliamentary hearing into the cost of living. Officials defended their decision to increase interest rates seven times last year with more almost certain to follow, starting next week.

All part of 'you will own nothing' plan

To all those saying higher interest is a good thing. What do you think will happen to the price of rent? It's going up, a lot!

Reserve Bank: “If we keep lifting rates, up to 900,000 mortgages are at risk of losing their homes” Also Reserve Bank: “Lift that f_cker, my commission Cheque needs to pay for my Reno” If they know many will hurt, how in any way humanly possible could they lift again!

so as a distraction they'll go woke about the $5 note

Inflation and the cost of living was in the rise under the last government and you neglected to report on it

It was always going to happen.

Good to hear the RBA won't stop raising rates. House prices need to fall over 50% for them to return to manageable levels.

This will probably end with Philip Lowe marching a whole of young home owners over a cliff,which many will never recover from Economically and Emotionally!Well done Phil you’re a genius, how many increases have u had with little effect,move on and let someone smarter do the job!

The RBA caused this by keeping interest rates too low for too long, they should be held accountable

Everyone should realise LNP wreckless spending has caused low wages that can't cope with the debt ridden inflationary economy pandemic accross every house hold. Commonwealth debt below, NOT wage growth in last decade

This guy went to Davos. Watch as he influences towards one word Government.

They want you bankrupt, simple as that.

No Sh!t Sherlock

Yep they tells us the looming massive problem and still launch more interest rate rise torpedos. Economists have always lacked empathy and personality

People and real estate agents have lived being foolish believing govt and reserve spending like no tomorrow. Let’s hope it brings house prices back to a sustainable level. They are still to high. Greed is a terrible thing.

Albo and jimbo have vacated the field on economic growth, productivity, inflation and interest rates, leaving the heavy lifting to the RBA. No plan. No idea.

Would people rather Australia not bolstering the economy and falling by the wayside in the current global economy and just whinging their feelings away and spending the money they're complainimg about on luxurious art-deco?

You will own nothing and be happy 😊

Maybe if people stop caring about their self-image at fancy restaurant nights-out, the hundreds of dollars spent could go towards mortgages/they could stop crying about a $1000 increase per annum, when they could be saving and putting much more into what they're crying about..

Create the problem Cause a reaction Have government come up with the solution.

Loans Loans Latest News, Loans Loans Headlines

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