ASIC is concerned that self managed super funds are being setup purely to leverage investment properties which they say is exploding in popularity.
Interesting ASIC see the risk more as that it will attract fraud, rather than leveraged investment properties being a risky asset for retirees.
Quite possibly self managed super funds might actually be what makes Australia different to everywhere else - housing no longer needs to affordable for young people to hold up the market as retiring baby boomers have more than enough leveraging power to keep the whole property market a float with their superannuation?
