Australians were addicted to debt. Now were breaking the addiction. The new question is whether we can survive the withdrawal symptoms.
Australians are reducing debt in many places. We are cutting the value of loans but also the number of them. We are borrowing less for investment housing but also for owner-occupier. Were limiting housing debt and also personal debt. This is wide-scale change.
Australias household debt levels got worryingly high. We have $1.8 trillion in housing debt, and it has been rising fast. So a bit of caution is good news. But going cold turkey on debt is concerning too.
We divide the economy up into three parts households, government and business. Government and business debt are not especially high at the moment….
Read the full article at: https://www.news.com.au/finance/economy/australian-economy/australias-18-trillion-ticking-time-bomb/news-story/24a0e6bc727525dd95d6d835e5b4fbe3