It's a horrific thought for some,but having several generations living in the same household has plenty of benefits – as long as you can negotiate the inevitable disputes over space.
Interest rates could remain low for"decades",the Reserve Bank governor has signalled while warning Australians may be starting on a fresh binge of mortgage debt that could expose one of the nation's biggest economic vulnerabilities.
The authorities have had little success at pushing the economy along. The Reserve Bank governor thinks he knows why.
Australia faces a lost decade of growth,ANZ has warned,that will keep a lid on living standards and hurt plans for budget surpluses.
I usually pooh-pooh all alleged recessions that have to be qualified with an adjective. But I’ll make an exception for the"household recession".
Australian household debt has reached a record high just as the RBA signals more interest rate cuts to get economy growing.
RBA deputy governor Guy Debelle says recent rate cuts will deliver a long-term benefit to many mortgage holders.
Australians are running down their savings and crimping their spending to offset slow wages growth.
Record levels of public and private debt could precipitate a loss of trust in financial and political institutions,the economic think-tank says.
The poorest fifth of Australian households are spending more of their income on housing than ever before.
The gap between the interest rates on personal loans and the official cash rate has almost doubled since 2006.