PM's apology regarding rate rise
November 7th 2007 02:12
As read on news.com.au November 7, 2007 Prime Minister Howard apologises to homeowners for the rate rise. While granted, it cannot be said that the Prime Minister controls the rate rise his apology seems to fall short. Home owners have his sympathy and understanding that the rise in rates will make things more difficult for them. To the average middle class Australian family however, a rise in rates means substantial difficulty. For a family struggling with the expense of mortgage repayments and the cost of everyday living always on the rise while their salaries do not increase, extra monthly repayments associated with a rise in rates is a severe blow.
Prime Minister Howard won't be affected by this, it will be the middle class Australian family who suffers and the divide between the rich and poor will further widen. What will it matter to those struggling families that the rate increase is said to be 'justified' by the RBA.
The bad news does not end there, it's said that more rates increases are to come causing even greater chaos in the housing industry. How is an average family going to afford to buy a home if their salaries have not increased in proportion to the increase in the cost of daily living and they're being bombarded by rate rises? Answer that Mr. Howard.
Prime Minister Howard won't be affected by this, it will be the middle class Australian family who suffers and the divide between the rich and poor will further widen. What will it matter to those struggling families that the rate increase is said to be 'justified' by the RBA.
The bad news does not end there, it's said that more rates increases are to come causing even greater chaos in the housing industry. How is an average family going to afford to buy a home if their salaries have not increased in proportion to the increase in the cost of daily living and they're being bombarded by rate rises? Answer that Mr. Howard.
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