Reserve Bank Governor Michelle Bullock has upset Labor Party
MP Education Minister Jason Clare by suggesting borrowers may have to
'sell their homes' to cope with aggressive rate hikes.
“Although this group is fairly small overall, those in it
have had to make quite painful adjustments to avoid falling behind on their
mortgage repayments.
“This includes things like cutting back on their spending to
the more essential items, trading down to lower-quality goods and services,
dipping into their savings or working extra hours.
Some may ultimately make the difficult decision to sell
their homes” she said.
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