Affluent Sydney suburbs on the brink of mortgage defaults

Once associated with affluence, Sydney's eastern suburbs, North Shore and Northern Beaches are at greatest risk of mortgage defaults.

"People are in financial stress at the moment and many of those people are going to struggle over the next few months." Mr North said he's done this modelling for 20 years and when everything is taken into account, "it is the worst I've seen it".Official default figures don't tell the full story as banks will often encourage stressed households to sell before they foreclose to avoid the bad publicity and extra costs."There's some anxiety going on, not just personally but I can feel it when I talk to other people, when I talk to my family and friends," Mr Zaki said.

pretend to be rich with huge loans will lead to reality that you are not that rich

Oh dear😎

Ha ha! Yess.

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