Your house is safe, RBA says

Simon Hampel · 31st Mar, 2009

Australian house prices secure, Reserve Bank says

Australia's house prices will hold up better than those overseas, despite the slumping economy, the Reserve Bank said, largely because of the quality of the loans underpinning the market.

"We continue to believe that the market here will hold up better than overseas,'' RBA deputy governor Ric Battellino said in a speech to the Urban Development Institute of Australia in Brisbane.

"There are a number of reasons why this is likely to be so, but perhaps the most important is that we did not have the same deterioration in lending standards that occurred elsewhere.''

"By and large, the great bulk of Australians who took out housing loans have been able to afford the repayments,'' he said in a speech that also alluded to the economy falling into recession.

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Chomp__ · 31st Mar, 2009

Because of the Quality of Loans?

People may have been able to afford the mortgage when they had a job but with so many lay offs lately and more to come I don't think the quality of the loan will be worth the paper its printed on.

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Your house is safe, RBA says

Simon Hampel Founder Staff Member

Chomp__ Well-Known Member

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Your house is safe, RBA says

Simon Hampel Founder Staff Member

Chomp__ Well-Known Member

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