Mortgage borrowers spending less than those without debt, says Moomoo’s Tapas Strickland | ABC News
Chief market strategist at Moomoo ANZ, Tapas Strickland says the latest big bank lending data confirms that people with housing debt are feeling much more stretched financially than those without housing debt.
“There’s also a dichotomy occurring. It seems like a K shape economy occurring like we saw in the post pandemic rebound. Those people without a mortgage are seeing spending growth rates per capita of about 5 per cent, and those people with a mortgage are seeing spending growth rates per capita of about 2.4 per cent.” He says.
This comes as indications increase that there will be at least one more rate rise from the RBA. Tapas Strickland says a hike could occur in November or December this year.
In a broad ranging interview with Alicia Barry, Tapas Strickland highlights the risks around the AI investment boom, related infrastructure build out and how the Australian mining sector is tied to it all.
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