The World Today: Mortgagee sales rising

RRN: The World Today: Mortgagee sales rising
This is an excellent extended report from ABC radio's The World Today.In depth overview on how the mortgage belt is hurting and how complicit both the ALP and the Coalition is in the fallout.Howard's "little Aussie battlers" are in a lot of pain.

The World Today: Mortgagee sales rising: archived---

When the Reserve Bank meets tomorrow to decide whether to wind back Australia's inflation by raising interest rates for the third time this year, it will also be deciding the future for thousands of Australians on the brink of financial ruin. For some, the hammer has already come down. The collision of rising interest rates, falling house prices and easy money has led to an unprecedented number of mortgagee sales. In the outer suburbs of Sydney and Melbourne, the sheriffs are busy locking out more and more homeowners who can't make their payments.