not all subprime houses are in the bottom end, most subprime loans were sold to people who could have had prime loans.
you are correct that subprime wont happen here, because it was not sold here like it was in the US, however, our banks borrow money from other banks who now charge more money to borrow money.. thats why our banks up interest rates.
As RBA ups interest rates also and the rates go up in Australia, we will most probably have the same issue with our prime loans like the US with the subprime loans.
