The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
Prime Minister Anthony Albanese’s headline agenda, which dominates media reporting, includes China, climate change, and a federal integrity commission.
Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
Australia’s most experienced advocate for victims of predatory bank lending has slammed as “insane” Prime Minister Scott Morrison’s policy to lower bank lending standards to boost economic activity.
