from kingpins ""Most of them have no liquidity at all they live on the edge so when a bust comes it will be severe and it will emulate the USA"" have a look at the figures on mortgage debt in australia http://www.rba.gov.au/speeches/2012/sp-so-110412.html---from this link provided in this thread almost half of mortgages in australia in 2010 are ahead ---we have around 1.7% default rates --and considering what has happened in qld recently its pretty good(very low by world standards)-these things have been well discussed on this thread and yet statements like that which are factually incorrect keep being posted have a look at savings in australia---the increase in savings isnt some recent post gfc thing ---its been around since 2005
