Home loans around a million $ and more are painfully commonplace today—# financialrisk.
Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year. If more people default on their home loans, economists warn that could create financial system instability. Here is a direct video link.
As shown below, among OECD countries, Australia ranks 4th in terms of property market downside (unsustainable prices to rents, to income, price and credit growth trends). Unfortunately, coming in 5th, Canada is right there with them.
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