Cashed-up downsizers go "mortgage free" as generational divide widens

Despite 12 interest rates since May last year, a quarter of all residential properties were bought outright with cash last year according to the digital settlements company PEXA. That might surprise or upset many people struggling to pay their mortgage, but the shift of downsizers to regional Australia is a significant demographic shift that highlights the generational divide. Reporter: Peter Ryan, Senior business correspondent Featured: Mike Gill, Head of research, PEXA