Household debt crashes!
[economics/ ] [Permalink]
According to recent data the household debt binge is starting to unwind. A report in the Sydney Morning Herald on November 26, under the title Mortgage dreams drift off the plan reveals that:
THE number of properties seized and sold by lenders after mortgage defaults is on the rise after more than $60 billion has been slashed from the value of the Sydney property market since the city's house prices peaked two years ago.
As house prices continue More ...
Posted on Mon, 28 Nov 2005 21:56 by bill (1134 day(s) old)
