Indeed. We are a household debt economy and banks are set to benefit. Mass immigration fueling deposits, and loans out the other end to allow purchases on comically overvalued property prices. Ive even head 40-year mortgages are a thing now, basically sign your life away to a lifetime of debt just to live in a suburban 3-bedroom house. This is the best explanation for why money is being poured into the banks - they are going to eat a significant part of the country's collective income. Housing comes first, so retail and other industry reliant on induvial consumer will take the scraps after mortgages an interest have been paid to the banks.
Its dystopian like what our economy is turning into.
CBA Price at posting:
$170.86 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)