four corners 8.30 monday abc - "here it comes", page-5

Schiff
"We're in so much trouble now because we got drunk on all that Federal Government alcohol."


thats right people, just like Keen, lets blame the government.
Its all their fault.


lucky we don't have...

NIJA loans
ARMs
non recourse loans
and a gullible populace taking large amounts of these type of loans.

and most of our mortgage market is able to *respond* to the cash rate, of which there is plenty of room to move

our foreclosure rates have been dropping for 4 years and are around 0.6%.



should be interesting, but fairly irrelevant to the Australian property market.