The unnerving feeling of living with negative equity in your house is more than likely to depress consumer spending, according to Mr Wiles.
It noted while total mortgage payments remained at around 12 per cent of income, voluntary principal payments were down to 1.5 per cent from 3.5 per cent in 2015. "The RBA dataset shows that the 120-plus day mortgage arrears bucket has risen faster than 60 to 90-day or 90 to 120-day, suggesting non-performing loans are taking longer to resolve," Mr Wiles said.
Forced selling, negative equity; it's a very unhappy and expensive relationship breakdown for all concerned.A rate cut or two could certainly ease the squeeze, particularly in households stifled by weak wage growth and cost of living increases.
Has this been posted twice? ANALYSIS
Has this been posted twice?
Well if you done your homework you should not have paid over inflated prices for it. A fools market.
Hi Stephen_Letts, Best be talking to someone about this. As it’s entirely incorrect.
How , for goodness sake , with Interest Rates so low , around 6/7 % Australia would be in massive trouble with defaults , if & when Interest rates get back
Stephen_Letts LendleaseGroup The earlier a real housing crash, the better. Something has to stop that apartment tower boom because when power shortages make living in them impractical they'll fall into disrepair and become centres of crime. Detonating them will become necessary
Stephen_Letts If we get another oil price shock there'll be a repetition of what happened in the US in 2007/08. Banks have learned nothing, government is sleeping as documented in AngusTaylorMP 's latest fuel 'security' review which hasn't considered peak oil in China 2015