What does 'Ruddprime' mean in Australia?
Australian slang 'Ruddprime' meaning?
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'Ruddprime' meaning
One Definition
Shaz
The unofficial industry name for mortgages in Australia that used Prime MinisterKevin Rudd’s infamous First Home Buyer Boost of 2008-09, that gave home buyers up to $21,000 to go towards a deposit. It is said that many of these entrants will not be able to afford repayments as interest rates rise. Its a pisstake of the infamous U.S “Subprime” mortgages
Example: Why would you want to buy a house now? Wait for a few more interest rate hikes to see the effect of Ruddprime.
The unofficial industry name for mortgages in Australia that used Prime Minister Kevin Rudd’s infamous First Home Buyer Boost of 2008-09, that gave home buyers up to $21,000 to go towards a deposit. It is said that many of these entrants will not be able to afford repayments as interest rates rise. Its a pisstake of the infamous U.S “Subprime” mortgages