30%Mortgage repayment increases when interest-only loans mature.
189%Households’ debt-to-income ratio, an all-time high.
After 27 years, the Australian economy is finally facing a recession. Neither monetary nor fiscal policy look set to save it and yet again we appear highly dependent on a Chinese surprise.
The outlook for the Australian economy is bleak. Gross domestic product and consumption growth are expected to fall. The recent decline in house prices will almost certainly continue alongside the six year-long stagnation in real wage growth.
