Forget inflation. Inequality is the real economic problem.
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The Generational Component of Australian Mortgage Rate Rises
The people who benefited most from the booming asset prices over recent years are less affected by rising rates now. And there's a significant generational component to this, too. There's a growing number of older Australians who either don't have a mortgage or have a very small mortgage and they've been relatively unaffected by these rate rises. Meanwhile, the homeowners, most affected, are overwhelmingly those in their 30s and 40s. But it's actually renters who are in the worst trouble, and there's a lot more of them.
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