ruddprime
the unofficial industry name for mortgages in australia that used prime minister kevin rudd’s infamous first home buyer boost of 2008-09, that gave home buyers up to $21,000 to go towards a deposit. it is said that many of these entrants will not be able to afford repayments as interest rates rise.
its a p-sstake of the infamous u.s “subprime” mortgages
why would you want to buy a house now? wait for a few more interest rate hikes to see the effect of ruddprime.
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