Aus economy not that flush, page-7

Household debt shouldn’t be a problem.
People will have borrowed conservatively.
They haven’t paid too much for a place.
Banks gave them the loans.
Banks and other lenders wouldn’t encourage people to loan money that they couldn’t service.
People will have had loans that they pay off the principle and not just interest.
People would allow capacity in case employment waned, or wages didnt rise.
People wouldn’t buy an investment property if they were not completely sitting on the principle house being very significantly paid off.
People wouldn’t use their equity to buy holidays, boats, new cars, caravans, and add it to their home loan.
People will not pay enormous private school fees for their kids, if they didnt have the after tax income to afford it.
People will not try and keep up with Joneses.

Everything will be fine.