{"id":60457,"date":"2025-08-12T01:14:08","date_gmt":"2025-08-12T01:14:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/60457\/"},"modified":"2025-08-12T01:14:08","modified_gmt":"2025-08-12T01:14:08","slug":"michele-bullock-told-theres-no-reason-to-risk-reputation-millennials-hailed-over-mortgage-sacrifice","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/60457\/","title":{"rendered":"Michele Bullock told there’s ‘no reason’ to risk reputation, millennials hailed over mortgage sacrifice"},"content":{"rendered":"\n

You\u2019d be stretched to find many people who haven\u2019t felt the impacts of the nation\u2019s cost-of-living crisis<\/a>.<\/p>\n

But, Yahoo Finance contributor David Koch<\/a> said one group has copped it more than any other \u2013 young mortgage holders.<\/p>\n

So if you’re prone to wheeling out the infamous smashed avo remark, Kochie isn’t a fan.<\/p>\n

\u201cYoung homeowners paying off a mortgage have carried the nation through the cost-of-living crisis,\u201d the Compare the Market economic director said.<\/p>\n

\u201cThey\u2019ve had the worst of everything \u2013 higher prices at the supermarket, higher rates at the bank, plus the cost of everything from insurance to council rates going up.<\/p>\n

\u201cAnd of course, they had to spend much more to purchase a home in the first place.”<\/p>\n

New research from Compare the Market found someone with an average loan of around $600,000 would have seen their monthly repayments rise from $2,218 to $3,694 as the cash rate increased to 4.35 per cent between May 2022 and November 2023.<\/p>\n

Koch attributed the efforts of this generation to bringing inflation \u201cback in the Reserve Bank\u2019s target range\u201d.<\/p>\n

\u201cThey\u2019ve tightened their belts, cut back on spending, and reckon its time some of that pressure came off,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"You\u2019d be stretched to find many people who haven\u2019t felt the impacts of the nation\u2019s cost-of-living crisis. But,…\n","protected":false},"author":2,"featured_media":60458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,9920,1294,4276,9924,56,54,55],"class_list":["post-60457","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-cash-rate","tag-economy","tag-graham-cooke","tag-michele-bullock","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/60457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=60457"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/60457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/60458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=60457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=60457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=60457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}