Australia Warned To Prepare For “Severe Housing Collapse” And “Banking Crisis”
by Tyler Durden
ZeroHedge.com
Tue, 12/11/2018
Just weeks after we noted that Australia’s household debt to income ratio has ballooned to shocking levels over the past three decades as Sydney is ranked as one of the most overvalued cities in the world, Australia’s regulators have been warned to prepare “contingency plans for a severe collapse in the housing market” that could lead to a “crisis situation” in one or more financial institutions.
Australia has transitioned from the lowest household debt-to-income ratio to the highest in the world, in just three decades.
And now Australia’s News.com.au reports that The Organisation for Economic Co-operation and Development’s (OECD) latest in-depth assessment of Australia maintains that while the “current trajectory” of house price declines “would suggest a soft landing… some risk of a hard landing remains.”
The Rest…HERE
