James Kirby

We used to picture young families, basically, with small children.

Has that actually changed?

Is there much more regularly?

Are there older people in that cohort now?

Right.

So once upon a time when you had a mortgage rate rise, you were really hitting younger families in the suburbs.

You're now hitting...

Possibly a group that hasn't expanded much at all, possibly in the fullness of time may get smaller, but it will definitely get older.

And that group is actually people may more likely be in their mid 40s, mid 50s with mortgages.

Yeah.

Is that how it's sort of?

Right, right.

And to your point that they don't have to move them much for the pain to hit, if you like, because this cohort is so indebted.

Then one last question is, there are some senior economists out there who you know, I'm sure, who are talking that there's still two more rate rises to come, even if, you know, from the rest of the year.

Do you think that's the case?

Less rather than more interest rate rises.

And it can turn on a dime.

Yeah.

As you say, it's really just where the betting is at in terms of those money markets.

Yeah.