The Reserve Bank of Australia (RBA) today released its household debt ratios for the March quarter of 2016, which shows that Australian households are more indebted than ever.
Australian household debt to disposable income hit a record 186.9% in the March quarter:
Not surprisingly, this growth was driven by mortgage debt, which hit a record 134.7% of household disposable income:
As noted last month, Australia recently overtook Switzerland and Denmark to claim gold as the most indebted household sector in the world:
Not to be outdone, Australia’s housing stock owned by households also hit a record high 704% of total employee income in the March quarter:
And a record high 344% of GDP:
To be worth a whopping $234,000 per man, women and child:
Australia has pretty much hit peak everything when it comes to housing-related debt/valuation metrics.
