The one thing that they seem to fail to mention with the interest rate rises, is that with the record low interest rates for so long, there were many people who bought houses which they couldn’t, actually, afford.
If you have a mortgage you can't afford, it is really nobody's fault but your own. Sorry, but it is true
The Finical responsibility is yours, as it is with any financial decision.
You cannot blame the head of the Reserve bank, because if that is the only financial advice you took, well, then you were negligent in your financial research. Sorry. You can't even really blame the banks.
People took a punt on the historically low interest rates, and now it looks like it isn't going to turn out quite as well for them as they first thought. That is the nature of finance. That's life. Sometimes you win, sometimes you don't.
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