❓ What's a recession?
Australia is not currently in a technical (aggregate) recession, but the economy is undergoing a sharp slowdown characterised by negative per capita growth and severe cost-of-living pressure.
-> Inflation and Unemployment: Inflation climbed to an annual rate of 4.6%, and economists predict the unemployment rate could top 5%+ by early 2027.
-> "Per Capita" Recession: While aggregate GDP remains positive, Australia's in a prolonged per capita recession as rapid immigration masks a decline in the standard of living for the all Australians.
I'm not being alarmist.
These things happen in a recession:
- Mortgage & Rent stress
- Negative equity due to property slide
- Jobs are cut
- Small Businesses shut
- Government Spending increases
- Investment shrinks
If you want to discuss your households safety net and buffer for what's ahead, please contact the Trulies for your complimentary discussion.
Truly's advice, financial services and property strategies are complimentary. We do this for the best interests of our clients and we relentlessly strive to serve as the best mortgage brokers in Australia with uncommon excellence!
James Brett. Principal Mortgage Broker ☎️ 0439 591 759
Victor Simone. Principal Mortgage Broker ☎️ 0449 659 029
Nermalee Bowe. Senior Mortgage Broker ☎️ 0431 274 554
Dragan Disljenkovic. BD & Relationship Manager ☎️ 0422 435 900
Credit Representative Numbers 521733, 550284 & 547037 are authorised under Australian Credit Licence 389328
