Is shorting this a no brainer?, page-626

Totally true, if you buy a house within your financial means, and hold onto it long enough, you make money, simple. All your required to do is make a sensible purchase decision, don't over gear it with second mortgages, keep plodding away, and sure enough most Australian homes in viable areas will go up in price. The banks role is to take a bet that in lending you the money, you will repay the loan as required, so it too can make money.

If the borrower isn't able to keep down a job, or runs up far too much debt from either additional bad investments in life or borrowing further to pay for excesses life travel and new cars etc. you can hardly blame the banks.

In addition, Australian banks were considered the safest banks in the world during the GFC, in fact there were massive flights of capital into the big 4 during this time as they were, and still are safe havens.