Thursday, July 24, 2008

Almost half of those households are considered to be in severe mortgage stress – that is, struggling to manage their level of debt and meet home loan repayments – the report says.

Mortgage stress tipped to hit 1m by Xmas Higher interest rates are tipped to force more than a million Australian households into a state of mortgage stress by the end of the year, a new report says.

The government launched its National Rental Affordability Scheme which aims to increase the supply of affordable rental dwellings by 50,000, and possibly 100,000 by 2012.

Posted by big chris @ 06:33 PM (571 views)
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One thought on “Almost half of those households are considered to be in severe mortgage stress – that is, struggling to manage their level of debt and meet home loan repayments – the report says.

  • I am not shocked, I reckon the housing market down here is 60% over valued, I have sold my house in Brisbane at the top of the boom, and will be comming home to good old blighty to make a killing, on the crash, you get 8% in a 3 mth roll over term deposit, down here, 90% of ockers are desendents of 10 pound poms who come from council house estates,from the worst parts of England Ireland and scotland, they are in more debt than the uk. there is more culture in a yoguert than here.

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