Anyone have any views on the fact that Australian household debt now is 120% to GDP (compared to Americas 86% during the height of the GFC)? The banks exposure to Australian mortgages are HUGE, something like three quarters of their entire business. I am not downramping as I am a holder, merely looking for suggestions of where we are headed. I just consider the fact that interest rates are yet to flow through the economy and cracks already starting to show both in housing as a whole but what concerns me the most are the interest-only loans that will expire this year together with the meteoric rise of the usage of credit cards to get by. Would be so happy if anyone wants to share their view of where we stand. Thank you!
CBA Price at posting:
$107.43 Sentiment: Buy Disclosure: Held
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