Australians’ private debt has soared to 187 per cent of their income. Debt is up from about 70 per cent in the early 1990s.
The jobless rate rose for the second straight month in December to 5.8 per cent, and underemployment, the number of workers wanting more hours, is near an all-time high. Wage growth is the lowest on record.
Australia has one of the world’s biggest property bubbles. In some sections of the country, prices are already under severe price pressure. The entire country will soon face that problem, at least in my opinion,
The Financial Review reports There’s $1 trillion of Australian Mortgages and Some Now Worry of What’s Next
