Back in the late eighties early nineties, I was working as a furniture removalist (movers t'
you yankees), and the largest majority of our clients were people who'd had their homes repossessed... and not all of them were on the low income end. Some of them had previously been corporate big wigs, CEO's and the like.
Suddenly the middle class was becoming Oz's new poor... and the old poor were herded into greater destitution. That's what deregulating the banks and interest rates did here, and given the state of affairs as is, ever greater numbers will lose their homes here in the next couple of years or so... because lil Johnny (our former PM) had lost his hearing aids when major economists warned he and his government that economic change was imperative id this country's home owners/buyers were to keep rooves over their heads.
Now here's oner for ya from back in the late eighties, a business owner had his home repossessed due to inability to pay the higher interest rates... and get this... the bank (which bank..OZ joke) offered to rent it back to him for $30.00 per month than those mortgage repayments he couldn't make.
Oh, and another bank here in OZ, when they repossess homes, they rent them out to their own employees at more than reasonable rates... let's say 50% or more below the market rent for those properties.
YEP, it's GREED, JOBS for the BOYS, and PATS on the BACK for the folks who are IN league with the bank bosses.YUP, lawyers, politicians and bankers...what a FILTHY mob they are 
OK...gripe, chip spitting session over.
