AUSTRALIANS are reeling in financial doom, with 2 in 3 saying their financial situation is worse now than it was a year ago and many homeowners could be forced to sell their properties if interest rates rose another 1 per cent, according to a survey.
The survey by NEWS.com.au and polling firm Coredata has found more than one in two Australians, or 67 per cent, believe their financial situation is worse now than 12 months ago. This is a significant increase from 46 per cent in a November survey.
The survey of 2331 respondents conducted on March 10 to 18 found more rate rises cold force some people to the wall. If there was a further 1 per cent rise in interest rates, almost half or 47 per cent of property investors said they would be forced to sell their homes.
Of homeowners, one in three said they would sell if the rate rose another 1 per cent.
rest at http://www.news.com.au/business/money/story/0,25479,23758574-5016110,00.html
