Okay this aint sexy, but it could be the most important thing you read this year.
Did you know that Australian household debt compared to our GDP is sitting at 120 percent and is one of the highest in the world?
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Thats what the latest data from the Bank for International Settlements (BIS) says and they should know, as they are the central bankers banker.
Now you might well ask, why this is a problem?
After all, in the past decade, the banks have been lending freely, mostly to help households buy real estate to live in or as an investment.
Off that back of that they have been able to increase dividends to their shareholders and inflate their ba…
Read the full article at: https://www.9news.com.au/2018/09/17/02/40/60-minutes-property-market-mortgage-lending-economic-global-financial-crisis