Cost of living pressures and interest rate rises mean that millions of Australians are struggling.
But what often isn’t acknowledged by the Reserve Bank, its governor, or many of our political leaders, is that some people are doing just fine in these economic conditions – in fact, they can benefit from them.
Those people are the wealthiest Australians – in particular, people who have paid off their houses and are debt free.
Today, national correspondent for The Saturday Paper Mike Seccombe on why financial pain isn’t distributed evenly and how rate rises can make that inequality worse.
