Speaking to a young friend about his $750,000 mortgage which he had monthly repayments of $3100 in April this year and now looking at $5000 a month next year. I fully understand there are many old misers on HC who say bad luck because back in my day....... BUT I lived and bought housing in the 1989 recession we had to have, but clearly remember the bank manager telling me in 1990 when poverty walked in the front door, loved walked out the back door, and am sad to see this may be occurring next year. I really can't see much Albanese government can do to prevent this oncoming disaster which is really not one parties fault but a series of events leading up to this event. I know the analysts are predicticting a 4.5% terminal cash rate but I am still not convinced it will end there! What if the cash rate got to 7% in 2024 or higher???
