We can’t rule it out completely, but recent suggestions that Australia is the second most likely country in the world to suffer a debt crisis and recession in the next one to three years seem overblown. The level of household debt isn’t as high as it appears at first sight. And the latest data suggest that the danger posed by the high share of interest-only mortgages is starting to recede.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.