Cracks Are Appearing in Australia’s Trillion-Dollar Debt Pile
- Caution sounded as borrowers’ metrics show some deterioration
- Rate hikes would ‘knock the wind’ out of housing market: CBA
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The Reserve Bank of Australia frequently seeks feedback on the health of the economy. It might want to call the debt counselors soon.
Homeowners, consumers and property investors around Australia are making more calls to financial helplines as three warning signs back up the spike in demand: mortgage arrears are creeping up, lenders’ bad debt provisions have increased and personal insolvencies are near an all-time high.