You're going to see a string of brokers refer to the linked study for the next week or so. Data will further fuel the war on trail, but please remember that results are consistent with numbers published in 'The Conversation' well over a decade ago, and certainly consistent with a study sanctioned by a steering committee I participated in during the BRC.
I'm hearing that important industry voices are surprised by these details. How could we convincingly argue and fight for the eradication of antiquated clawback policies without this elementary understanding?
Well done to the Australian Institute for their detailed report (ensure you read the raw research data).
https://australiainstitute.org.au/report/profit-in-home-lending/
"Australia Institute research shows the big four banks take profit of approximately $9,130 in the first year from households with an average owner-occupier home loan.
This is $761 each month, or $176 per week, from homeowners".
