Above is an interesting segment aired last night on ABC’s The Business examining Australia’s high risk mortgage market.
The segment features an interview with an anonymous mortgage broker “insider” who spills the beans on some of the dodgy tactics used in the lead-up to the GFC, with the insider fingering Macquarie Bank and StGeorge, in particular.
It also features Digital Finance Analytics’ Martin North, who highlights the recent increase in high LVR lending to certain lower income groups and young families, as well as the explosion of lending for speculative property investment.
Worth five minutes of your times.
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