The Reserve Bank of Australia (RBA) today updated its quarterly financial statistics, which revealed that Australian household debt rose to an all-time high in the December quarter of 2014.
The ratio of mortgage debt-to-disposable income hit a record 140.3% in December, up from June 2010 peak of 134.7% (see next chart).
The ratio of mortgage debt-to-GDP was also at a record high 89.1% as at December 2014 (see next chart).
Whereas the ratio of household debt-to-disposable income hit a record 153.8% in December, up from the September 2006 peak of 152.7% (see next chart).
Well done Australia and RBA for leveraging-up the nation into the oncoming structural adjustment.