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Australian debt reaches ‘historic highs’

Australian debt reaches ‘historic highs’

“An analysis of data released by the Reserve Bank of Australia has revealed that household and housing debt to disposable income is continuing to soar.”

High housing prices make for enforced savings of a great portion of our incomes.  This can cause financial distress for some.  “Importantly, mortgage arrears remain low and the Reserve Bank has reported that the typical mortgage holder is currently more than two years ahead on their mortgage repayments. This coupled with higher rates of household savings provide a potential buffer if unemployment were to rise sharply or interest rates began to increase.”

 

http://www.theadviser.com.au/breaking-news/34219-australian-debt-reaches-historic-highs?utm_source=The%20Adviser&utm_campaign=08_04_16&utm_medium=email&utm_content=4