Is it possible to grow a housing bubble the size of Australia’s with prudent lending standards?
So it probably comes with little surprise when Denise Brailey from the Banking and Finance Consumers Support Association (BFCSA) suggests there could be an estimated $100 billion worth of toxic loans in Australia. Bill Hoffman of the Sunshine Coast Daily sums it up as “AUSTRALIA has the world’s biggest sub-prime mortgage problem per head of population.”
Today tonight has aired a story tonight on the large toxic loans banks are providing the unemployed. The video can be watched here.
» Toxic loans – Today Tonight, 10th May 2013.
» ‘Hidden’ loan trouble looms across Australia – The Sunshine Coast Daily, 4th May 2013.
» Victims reveal ‘rogue’ swoops – The Sunshine Coast Daily, 4th May 2013.
» Senate briefed on Subprime crisis : Day 1 – Who crashed the economy, 8th August 2012.
» Senate briefed on Subprime crisis : Day 2 – Who crashed the economy, 9th August 2012.
» Banks try to hold Subprime floodgates closed – Who crashed the economy, 10 August 2012.
» Banking and Finance Consumers Support Association
Posted in Australian Housing | 21 Comments »