Housing mountain of debt reaches one trillion

Despite the Global Financial Crisis, an event triggered by debt, the Reserve Bank of Australia figures show Australian Households have punched through the big $1 trillion dollar mark in home mortgages.

This is almost 15 times more than 20 years ago. Loans to Investors to purchase houses have gone up 30 times in the same period.

» In the red, mortgage burden soars to $1 trillion – The Sydney Morning Herald, 27th February 2010.