From The Australian:
A New York-based portfolio manager with the world’s biggest investment management company has described the Australian banks’ exposure to the local housing market as “a little worrying,” expressing concern that the rising levels of household debt in Australia continued to buck global trends.
Justin Christofel, manager of the BlackRock Global Multi-Asset Income fund, told a luncheon in Melbourne today that “some frothy activity” in the Australian housing market was poorly timed given the commodities downturn and its impact on the Australian economy.
