After two years of consistent property market declines on the east coast and three years on the west coast, which have taken a lot of hot air out of the bubble, the last thing the Reserve Bank wants is to fire up another debt-fuelled property binge.
This is the question left unanswered by the original settlement proposed by ASIC and Westpac over the bank's alleged responsible lending law breaches. Unfortunately, the pressure already is on the RBA and APRA to loosen restrictions, to get housing prices on the march again. It's rationalised the cut in standards by arguing that, with lower official interest rates, that kind of buffer is no longer appropriate. But that's an argument largely put forth by the banks.Earlier in the week,
Poor corrupt leftist ABC we all know your still pissed you lost the election 😎