This report released today shows the rising level of mortgage stress and impending defaults in Australia’s deflating housing market.
And this is despite record low interest rates and historically low unemployment.
If one of these factors increases we could see a housing crash. What would happen if both rise?
..”More than 70,000 households risk default over the next 12 months..
..We estimate there are more than 300,000 households who are mortgage prisoners as a result.
The total number of households estimated to be in mortgage stress in July 2019 is 1,080,000 or 32.1% of borrowing households. This is another record..
More here; https://mailchi.mp/nmddata.com.au/nmd-data-newsletter-august-2019?e=b9e69c1d95#ArticleOneREADMORE
