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Mortgage Stress In Nz At 11.2% Of Households.

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From NZ, but coming to a country near you soon. Consumer spending will be suffering very shortly, then job losses, followed by reposessions everywhere.

Economist Brian Easton said 11.2 per cent of all households were in mortgage stress in June this year, up from just 3.7 per cent in 2004.

It is defined as spending more than 40 per cent of take-home pay on the mortgage.

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