Australian households win global debt gold!

Tuesday, 7 June 2016

From Phil Soos via Twitter comes the below update on household debt loads as at Q42015:

Congratulations Australia, you have now overtaken Switzerland and Denmark as the most indebted household sector in the world.

And despite record low mortgage rates, Australia’s mortgage slaves are still sacrificing a higher share of their income to pay mortgage interest (let alone principal) than when mortgage rates peaked in 1989-90:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.