“I think it is a mistake to assume that a riskless, easy guaranteed way to prosperity is just to be leveraged up into property. It isn’t going to be that easy.”
~ Glenn Stevens: Governor of the Reserve Bank of Australia (the guy in charge of all our money) finally raises the red flag on Australia’s debt driven housing bubble. Australia’s housing debt is over 160% of our entire combined disposable income. In 1977, it was less than 40%.