More and more parents are looking at ways to gift their children money while still having enough for themselves.
There are signs that higher interest rates and a slowing economy are now taking a disproportionate toll on young Australians.
Shadow bank lenders are seeing a rise in demand as the traditional banks tighten their loan books to ward against major defaults in commercial property.
Commercial property loans from traditional banks and non-bank institutions are at record highs despite global market volatility.
Falling house prices and higher interest rates should make parents wary of being on the hook for their child’s mortgage should anything go wrong.
Families borrowing from “subprime lenders” are loading up on buy-now-pay-later products and credit card debt just to cover their essentials.
Sydney and Melbourne home buyers face tougher lending standards within months as house prices in the two largest Australian cities rise hundreds of dollars every day.
Australian regulators have been urged to cool the booming housing market,with the IMF warning a property price correction would pose a significant risk to the nation’s economic stability.
Markets don’t work in the simple,transparent,what-you-pay-is-what-you-get way assumed by economics textbooks.
Greens senator Nick McKim will move a motion on Monday to get the federal government’s planned changes to lending laws knocked off the notice paper unless it is taken to a vote by the end of the week.
Pauline Hanson said the government’s plans to roll back responsible lending laws would leave Australians vulnerable to predatory banks.