Larry Williams Drive

How much financial pain is too much to inflict on young families struggling to pay off their first homes? History indicates it's a rite of passage- baby boomers endured mortgage rate spikes of 20 percent and Generation X suffered under rates that soared above 10 percent. NZ Herald business editor at large Liam Dann agrees it's a generational rite of passage, but the weight of the burden has grown for young people. LISTEN ABOVESee omnystudio.com/listener for privacy information.