Liam Dann: NZ Herald business editor at large on young property owners being hit hardest by high interest rates
How much financial pain is too much to inflict on young families struggling to pay off their first homes?
History indicates it's a rite of passage- baby boomers endured mortgage rate spikes of 20 percent and Generation X suffered under rates that soared above 10 percent.
NZ Herald business editor at large Liam Dann agrees it's a generational rite of passage, but the weight of the burden has grown for young people.
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