Millennials in the mortgage belt will bear the brunt of interest rate rises, while many cashed-up Baby Boomers will coast through the tougher economic times relatively unscathed.
People aged in their 30s and early 40s are the most indebted borrowers in the nation and didn’t amass much extra saving during the pandemic.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
