A recorded conversation with an Uber driver reveals the extent of Australia’s cost-of-living crisis – and indicates the worst is yet to come.
A recorded conversation with an Uber driver reveals the extent of Australia ’s cost-of-living crisis – and indicates the worst is yet to come. A recorded conversation with a mortgage broker forced to drive an Uber part-time because his business is “dead quiet” points to darkening economic storm clouds . The man operates his own mortgage broker age but has been forced to supplement his income because he’s “turning people away” who apply for home loans they can no longer service.
Economics firm PropTrack estimates borrowing capacities – that is, how much a prospective homebuyer can get from a bank – have plunged by a little more than 30 per cent in the past year. The Australian Prudential Regulation Authority – the country’s lending watchdog – requires banks to add a three per cent buffer to their mortgage interest rates to protect borrowers against future cost blowout
Australia Cost-Of-Living Crisis Uber Mortgage Broker Economic Storm Clouds Borrowing Capacities Home Loans Income Mortgage Interest Rates Cost Blowouts