$500 BILLION In Aussie Liar Loans?

Of all the regions in the world that are currently experiencing some kind of property bubble, Australia deserves a special mention. Thanks to China’s insatiable demand for commodities, Australia’s economy has boomed over the past several decades, incomes have soared, and property prices have surged, thanks in part to rising incomes as well as demand from Chinese property investors. But things may be even worse with new numbers about housing liar loans in the land down under.

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However, ordinary Australian’s have struggled to keep up with rising prices, but that hasn’t stopped them from buying. Mortage lending has grown dramatically,...