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Stress rising for first home buyers

17/02/2010

There are more than 100,000 first home buyers who have bought their home in the last 18 months who are now in mortgage stress, according to the latest Fujitsu Mortgage Stress Report for January. That equals about 40 percent of the 250,000 first home buyers who have entered the market in that time.

Some 30,000 first home buyers are currently experiencing severe mortgage stress says Fujitsu. Managing Director of Fujitsu Consulting, Martin North said that many people surveyed for the study did not draw up budget of their finances. "They don’t really know what they can afford," he said.

Source: The Age



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