Keith McLaughlin: Centrix Managing Director on the rise of borrowing and consumer credit with cost of living
More signs of the cost of living crisis are beginning to show.
People are taking out more personal loans to maintain their household budgets rather than splashing on luxury items.
The number of people missing mortgage payments has also tipped over one percent.
Centrix Managing Director Keith McLaughlin told Mike Hosking there has also been more hospitality and construction businesses defaulting.
He says the construction industry is dealing with supply and increased cost issues.
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