RBA’s Bullock: Australia faces large housing risks
Debt-to-income ratio has risen and banks are highly exposed to the housing sector
Australia faces major housing vulnerabilities, having seen household debt-to-income ratios rise faster than many other economies, Reserve Bank of Australia assistant governor Michele Bullock said on September 10.
The country has seen a sharp increase in mortgage debt, driven by high levels of home-ownership among households, who borrow not just to finance their own homes but also to invest in rental properties, Bullock said.
Mortgage lending is an important part of banks’ balance sheets in
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