Memo to Mortgagors…get your house in order
Whether you believe it or not, an economic tsunami is coming and if you think we will survive the damage and the fallout, as we did the GFC, you’re dreaming.
The next GFC will make the last one look like a vicarage fund raiser. Why? Because we are not just making the same mistakes as last time, we are making bigger ones.
One simple statistic reveals a frightening scenario. Currently, the big four banks have a combined equity of around $162 billion. Place that alongside their current exposure to domestic mortgage loans of $1.6 trillion and you begin to see the looming threat.
Read more at: The Australian Independent Media Network