We have changed the norm so much over the last 30-40 years that what used to be extravagance is now expected. We are now all about instant NEVER delayed gratification.
It's the same here but possibly worse. Australian households have more debt compared to the size of the country’s economy than any other in the world. $2 trillion in unconsolidated household debt relative to $1.6 trillion in GDP. Cars, boats, McMansions etc and it's all on the never never.
When the interest rates go up, this country is in deep do do.
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