From the ABC.
On Radio Nation PM Programme this evening.
It was just weeks ago that mention of rising mortgage defaults was met with some sniggers and jeers, with many in the industry pointing to what are still actually very low rates of arrears overall.
So you can imagine the surprise when the boss of one of Australia’s big four banks conceded today that he too was worried about home owners keeping up with their repayments.
If that’s not scary enough, according to the ANZ, as many as 5 per cent of homes slumped into negative equity in March, where the value of what they owe the bank is more than what their home is worth, putting even more pressure on borrowers.
It begs the question: is the worst of the house price falls now over, or is there worse to come?
I discuss the latest data.
