I perfectly understand the utopian smoke shrouding most bulls' approach in here. yes the debt is serviceable now but the whole point is that I dont see it being serviceable in the near future ie no job etc etc .. of course it looks like it going well now - that defines the exploding housing market.
low rates = bad economy .. no I assume you are kidding you want that one explained.
lets get one thing straight ... I wish and hope that I am going to be so wrong but I research the sh*t out of economics, money markets and fx, and so on. I do not see anywhere a true and natural upswing in pretty much any asset in the world - inc Oz. Bulls you are basking in glory a buoyant market but you do so whilst holding a hot potato. The growth in asset prices (in this case property) has not been one that can end smoothly. I own property so dont bother throwing that one - but it is of the lesser evil (ie renting).
I dont care what the current figures are saying how well we are doing .. the debt will never shrink or go away in downward market .. even zero rates wont help us where we are going.
