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.
The death-knell of neoliberalism in Australia is sounding louder, with a landmark policy recommendation inserted in the end of a Parliamentary report handed down mid-March.
The REIA's figures, from a December 2007 survey, follow a JP Morgan/Fujitsu Consulting Mortgage Industry report which forecast 300,000 mortgage foreclosures across Australia this year.