The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
The major political parties’ economic policies from the 1980s onwards smashed Australian manufacturing, which shrank from 20 per cent of GDP in 1980 to barely 5 per cent now.
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.