Wondering what to do if you’ve got mortgage stress? Consumer advocate, RateCity.com.au, believes COVID-affected customers should not have to pay a higher rate if they can only afford to make interest-only repayments on their home loan when their six-month deferral ends. From September, homeowners on a deferral who can’t resume their repayments can potentially extend…
Debt is bad – I don’t want to borrow! That’s what I heard someone say at friend’s BBQ last weekend. The conversation had turned to real estate and what’s happening in the property markets are at present (as it usually does) and one of the group standing around said: “I’ve almost paid off my house…
Australians have wiped a staggering $4.2 billion dollars off the national credit card debt accruing interest since the COVID pandemic hit. Figures released by the RBA show that since March, credit card debt accruing interest has dropped by 16 per cent to $22.79 billion, the lowest total since October 2005. This means Australians have knocked…
Paying off your home loan sounds like a great idea. So does investing for your future. If you don’t have enough money to do both – and a lot of people don’t – which do you go for? Most people are actively paying off both the principal and the interest, because that’s what they’ve always done….
How are you coping financially in these challenging Coronavirus times? New research from Canstar shows 35% of Australian adults (6.9 million people) have experienced impacts to their income and/or employment status due to the COVID-19 pandemic. This increases to close to one in two (46%) mortgage holders. Canstar urges anyone with a home or investment…
Believe it or not…Australia has 46 new million-dollar suburbs despite the Coronavirus induced recession. Melbourne saw median house prices in 24 suburbs exceed the seven-figure threshold this year, while Sydney had 15 and Brisbane, seven. Despite everything that’s been thrown at them, our property markets have remained remarkably resilient. And the upper end of the…
Property investment is not something you should ever enter into lightly. But for some reason, that’s what a lot of people who have dreams of making millions with real estate do. They think, ‘I can go out, buy a house somewhere, stick some tenants in it to pay the mortgage and make a killing! How…
There’s some good news amongst the terrible unemployment figures. In July 12.5% of the workforce (1.79 million Australians) were unemployed. This is a significant drop of 262,000 on June as the Australian economy – with the exception of Victoria – continued to re-open. An additional 1.5 million Australians were under-employed (10.5% of the workforce), up…
There’s no way any of us are going to forget 2020. Each generation has had their defining moments, and it is likely that for Generation Z (born 1995-2009) and Generation Alpha (born since 2010) it will be how COVID-19 took hold of the world in 2020. Cording to leading tomography Mark McCrindle, the age at which we’re…
Want to know where Australia’s biggest income earners live? The latest taxation statistics for 2017-18 which are based on the tax returns of 14.3 million Australians tell us where they are. Seven of the nation’s average highest-earning postcodes are in NSW, while six of the lowest-earning postcodes are in Queensland. Sydney’s eastern suburbs dominated the…
