22 October 2007
Mortgage Stress 'alarmist'?
Mortgage Stress "Alarmist"?
The "30%" figure is bandied about without due regard to the higher wages allowing more disposable income. This article cites loan default rates which strongly indicate that mortgage stress is presently not a problem in the real world.
"To support his argument, Mr Naylor quoted a joint Reserve Bank of Australia (RBA) and Australian Prudential Regulation Authority submission to a parliamentary inquiry into home lending practices in August, which found arrears of at least 90 days had a rate of 0.22 per cent. "
Those figures hardly suggest mortgage
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