The founder and CEO of Vantage Performance said the increased costs of servicing a mortgage had depleted cash built up during the pandemic and it was business as usual for credit card debt.
“Inflation is coming down because the household savings rate is now at such a low level,” he said on Momentum Media's Accountants Daily podcast. “Also through Covid the average credit card balance dropped by a third … it’s just tipped back up at the end of the June quarter, back up to the peak of where it was pre-Covid.”
“The economy, in terms of discretionary spending, is now exhausting itself.”
“Look at the US and Europe – when you go into a recession with a very low household savings rate the recession is worse because there’s just no buffer.”
Life after Parliament and the changing geopolitics of the Indo-Pacific, with Scott Morrison
Sam White on payroll tax, technology, and creating Australasia’s largest mortgage brokerage
Shadow treasurer urges less government intervention for advice prosperity
The view of property from the top
Undertaking transformation projects
Tax cuts, advice reforms, and ASIC oversight
Monitoring water quality on Earth – from space
Unpacking the role and responsibilities of Parliament’s oversight committees
The perennial appeal of ‘brick-and-mortar’ investments
Bringing together Defence, industry, and academia to drive innovation – Dr David Kershaw, DSTG
Unlocking leadership potential through effective communication
Key lessons for lawyers from the 2023–2030 Australian Cyber Security Strategy
Government commitment to defence based on considered, direct action, with Meryl Swanson MP
The lessons Ian Rakhit has learned from the UK and Australian mortgage markets
Real Estate Exposed Special: Behind the scenes of The Block 2023
Why Greg Medcraft believes Australia should have a public RMBS
Dive deep into the future of financial advice with Minister Stephen Jones
Breaking down barriers and building an inclusive future
‘Don’t be afraid to talk – it can save your life’
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
The Ramsey Show
Planet Money