|
February 18, 2006
In The Australian's Inquirer section there is an article by George Megalogenis entitled 'After the house party end', which states the following scenario:
A weaker economy, rising interest rates and household debt setting new records virtually every quarter is a cocktail Australia has never trried before.
Ian McFarlane, the Governor of Reserve Bank, has foreshadowed tha the next movement in interest rates is lilkely to be upwards, the household debt boom from mortgages in capital cities continues to increase, and the resources boom has a limit as the economy is operating near full capacity. That could result in a large number of home buyers finding themselves in deep financial trouble.
|
