274. First Home Buyer Meltdown: What This Reddit Post Gets Wrong About Interest Rates
A first home buyer posted on the Oz Finance subreddit convinced that rising interest rates were about to swallow 84% of their income. The maths looked terrifying. The only problem wast that it was completely wrong.
Tash and Emma from The Broke Generation are back together again to break down exactly where this buyer's calculations fell apart, and why it's far more common than you'd think.
In this episode, they cover:
The specific mistake that turned a manageable rate rise into a financial nightmare on paper
Why the lending system already has a built-in buffer most borrowers don't know about…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.