Quote:
Originally Posted by JB80
There are worrying similarities and problems which may even surpass what went on in 2007.
Who knows what will happen if anything?
I don't think Oz will fall anywhere near like what Ireland and Spain have done but don't be surprised if it did.
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I really hope it doesn't happen in Oz like it did in Europe but the similarities are there. The banks were better regulated than in Europe but you don't really know what has happened behind closed doors.
You have escalating housing prices combined with low interest rates and banks that are willing to lend ridiculous amount so money. Its like pouring petrol on a fire.
A good indicator is the amount of personal debt per capita.