Today’s front page on The Australian illustrated the interest rates story with yarn about a poor Sydney woman who would now have to pay $160 more per month on her mortgage. The accompanying table showed that she must have had a mortgage of $1M! So that’s what it takes to be a battler in The Australian’s universe!
Things are so bad for Judy Porter that she can’t even afford to shop in the local Rose Bay area but has to drive to Maroubra “or somewhere like that” where you can buy food cheaper.
My advice to her is to sell up now while she’ll still get top dollar. The RBA may have done her a favour. If she sold she might even be able to afford to eat.