Scott Pape hits the nerve
July 16th 2006 19:02
Less than 24 hours after writing my previous post "Hey wheres my money?", Herald Sun on its 15 July 2006 edition published a commentary, "Not the retiring type" by a reputable financial commentator, Scott Pape, on young Australians (under 40s) financial burden despite being the most educated generation.
"Young Australians have never been more in the red. Average individual debt rose from $4787 in 1996 to about $10,000."
"Today, more than one million Australians have amassed $13 billion in student debt."
"On top of this there's the scare factor of predicted hikes in interest rates, even though this will serve to cool the market and dampen prices."
The daily also carried the latest fact that about 20 Victorians a day are being slapped with property repossesions, i.e: risk of being kicked out of your own home for failing to pay the mortgage.
Adding salt to the wound, the RBA may lift interest rate in August again.
"Young Australians have never been more in the red. Average individual debt rose from $4787 in 1996 to about $10,000."
"Today, more than one million Australians have amassed $13 billion in student debt."
"On top of this there's the scare factor of predicted hikes in interest rates, even though this will serve to cool the market and dampen prices."
The daily also carried the latest fact that about 20 Victorians a day are being slapped with property repossesions, i.e: risk of being kicked out of your own home for failing to pay the mortgage.
Adding salt to the wound, the RBA may lift interest rate in August again.
| 64 |
| Vote |
subscribe to this blog
Comment by Cibbuano
Hunt Famous
Orble Post of the Day
Fat Cult
Techbreak
Comment by Benjamin
Benkaiser.NET Investment Portal