Forget inflation. Inequality is the real economic problem.
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The Housing Affordability Crisis
The stresses on those who rent, and that's more than 30% of the population, it's at least as big an issue as mortgage stress. Most rental properties are owned by sort of mum and dad investors who often have mortgages on those rental properties. To cover their increasing repayments on those mortgages, they're pushing up rents and often adding a little bit extra as well. We see incredibly low rates of financial stress among older Australians, but only those pensioners who own their own homes. Half of them are in poverty today. These are the ones that are really doing it hardest,. The housing affordability crisis has nothing whatsoever to do with the bank. This is a result of pre-existing
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