OK that's a lot later than some are saying, and it means they're going to throw the kitchen sink at it to stop it failing.
I would think that non performing loans are going to have to be dealt with. They will not carry them on the books indefinitely it's not how the financial world works.
An unwinding/deleveraging can be sudden with a few sharp shocks or it can be slow and painful. It seems like the latter is coming...
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- Can we just simply build more houses / units to slow down the house price madness !!!
Can we just simply build more houses / units to slow down the house price madness !!!, page-102
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