Rising House Prices and the Wealth Effect

Australia is not out of the woods on the cost-of-living crisis – prices are still rising too fast.

Last week, the RBA were so concerned that they hiked interest rates again, saying it’s the only way to slow down the spending that’s pushing prices higher.

But who is doing the spending? And how do they have money to throw around?

Today, national correspondent for The Saturday Paper Mike Seccombe, on the Australians still spending big and why it means more economic pain for the rest of us.

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Guest: National correspondent for The Saturday Paper Mike Seccombe

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