Financial Hell: 57% in Australia Cannot Afford An Extra $100 if Interest Rates Rise, Stress in Wealthiest Areas

Mish Talk:

A new study shows 57% of Australia mortgage holders could not handle a $100 increase in their loan repayment.

Stress has turned up in even the wealthiest cities.

But who is truly wealthy? Paper profits on homes with enormous mortgages does not constitute wealth.

Cont....