Mojo ♻️As housing prices keep climbing, more Australians are only now entering the property market in their 40s and 50s — and that comes with real risk.
First home buyers over 45 have jumped from just 2 percent in 2005 to around 10 percent now, meaning many will carry mortgage debt into their retirement years. Longer loan terms, even 40 years, are becoming more common just to make repayments manageable.
The danger is obvious: if rates rise or income drops later in life, there’s little buffer left. Policymakers and lenders need to protect these late borrowers from post-retirement debt traps.
#housingcrisis #retirementrisk #affordablehousing #australia
