W C 8... IMO only, I dont think Aussie is going to be able to avoid a significant adjustment to its financial well being, and it's residential R estate value & indebtedness of its owners is a cornerstone that is, IMO, most vulnerable.
I agree, stats for all trading banks, for resid R E exposure are significant... and this hasnt gone un-noticed by the CBA particulalrly, NAB & WPac also.. the CBA began making mitigation plans for an increase in loan defaults in the period Spt..Nov 2010... their estimates of their own rate of defaults made then for now, were less than what has actually occurred..
The cost of living is the real sleeper... I dont want to get political, but we are all looking for trigger event... unemplyment , RBA etc etc.. but what may really be the straw that weighs the most is a Carbon Tax!!! I just cant see why, given the real presures on costs, any sane Gov nut would consider it...
