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Record number of Australians at risk of mortgage stress as RBA interest rate rises bite
(www.theguardian.com)
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this post was submitted on 28 Aug 2023
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Yet house prices remain stubbornly high, thanks Labor for promising to pump billions into subsidising ridiculous house prices instead of addressing any of the underlying problems.
Both major parties have been keeping the bubble going since the mid-90 and they keep doing it because it is a vote winner.
The wealth of so many Australians is tethered to property ownership that to threaten housing prices is to basically ask to lose an election.
Only while there are more home owners than renters voting. But with the population being 2/3 owners (half with a mortgage) and 1/3 renters that will not change for a long while.
Not quite accurate: not every homeowner wants this goddamn insanity to continue.