keen in his own words
worth a read
http://cpd.org.au/sites/cpd/files/u51504/KeenCPD_DeeperInDebt_NoApp.pdf
he says roughly this .. housing stocks haven't grown but people have borrowed more and more to pay higher prices
The end result is that a lot of people may not be capable of servicing the loans or for that matter the apetite for servicing a loan on an asset that is on a downhill run.
