South African homeowners in serious trouble: [an extract from an Article by: Shaun Jacobs – Daily Investor – 18 September 2024]
South African homeowners are showing signs of strain as many cannot afford to make the monthly repayments on their properties.
This has largely been due to interest rates remaining elevated at 15-year highs for over a year and the cost of living rising, eating away at disposable income.
Another trend that has been flagged is that many homeowners bought houses they could not afford at low interest rates during the pandemic when the Reserve Bank cut rates to stimulate the economy.
The Original Full Article can be Viewed here: → https://dailyinvestor.com/finance/63965/south-african-homeowners-in-serious-trouble-2/