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The ripple effects of the Reserve Bank's rate rise have put an undeniable financial strain on Australians, leaving many struggling with increased loan repayment obligations.

Mark Bouris and I do a deep dive into the impact of interest rates on the economy and household finances.

We examine the:

•  current state of the housing market
• rental crisis
• potential threat of a market crash
• influx of new immigrants, and
• what's likely to happen next

We also discuss the potential ripple effects of this decision; the widening wealth gap, the skyrocketing cost of living, and the government's role in providing relief. 

Is this the rate rise that stops the nation, or the recession we had to have?