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Cyclone Gabriel has severely affected regions, exacerbating the cost of living crisis. The Reserve Bank has responded by raising the official cash rate by 50 basis points, predicting further price increases for essentials like food and household items. This rise in rates hits mortgage holders particularly hard, especially those whose homes were damaged in the storm. Matthew Wilson, a victim of the cyclone, can no longer access his home due to a collapsed driveway and is now staying with family while still facing mortgage payments on an unlivable property. He confronts significant financial challenges from both the mortgage and extensive damage to his home.
