Bad Housing Debt in Australia


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Reading a speech given by the Governor of the Reserve Bank of Australia. I saw some interesting comparison statistics about Sub-Prime Loans, specifically this section:

Banks in Australia and Canada had more conservative lending practices in their home markets than their counterparts in the United States and the United Kingdom.

While sub-prime mortgages accounted for around 13 per cent of the US mortgage market in mid 2007, the closest equivalents in Australia and Canada accounted for around 1 per cent and less than 5 per cent of their mortgage markets, respectively.

The full speech is shown here: http://www.rba.gov.au/speeches/2009/sp-gov-190509.html, and does make very interesting reading for those people who are so inclined to be interested by such things.

A graph to show this is available at that link, but is also shown here:

RBA Non Performing Housing Loans

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