Hardship applications rise amid struggle for homeowners

The number of Australians struggling to meet their mortgage repayments has jumped materially over the past year as higher interest rates and inflation take their toll on households.
The Council of Financial Regulators says hardship applications have "risen materially" over the past twelve months.
The rise in applications is attributed to the sharp increase in interest rates across Australia and inflation remaining high.
If inflation remains high for longer, more people will fall into the mortgage stress threshold.
This comes as the RBA lifted rates to 4.35 per cent in November last year - their highest level in 13 years.

[@Barney_Rubble247]

But albo is so popular. 😊

[@zinny999]

​@InfinityIsland2203 not all Indegenous leaders.. just the fake one in Canberra whi like getting handouts

[@lisaayers1975]

Inflation is bad here in the USA also..Food prices are way to crazy high 😢😢😢

[@zinny999]

Don't vote in Biden...

[@whiskeygamer9402]

I couldn't careless for the Albo supporters struggling 😂😂

[@myday2704]

I couldn't care less for the idiots that over borrowed and naively didn't think rates could rise over a 30 year period.

[@vernonwhite4660]

The Australian Government just gave 2 billion $ to ASEAN nations.

[@immune2PR]

Rate cuts will wont help the irresponsible debt slaves their mortage payments may be lower, but inflation will eat that up. Then it punishes the financialy responsible.
Rates need to go up.

[@immune2PR]

@Kwistenbiebel200 agreed. wokeflation dead end cash injections to unproductive industries.

[@speedymccreedy8785]

The desolation of the Albo years.