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Australia’s debt dilemma – a concern or a crisis?

Australia’s Household Debt Crisis. In 2016, household debt reached a whopping aus $2 trillion or an average of $250,000 ( us $190,000) per household. The country’s gross domestic product in 2016 was just .62 trillion. australia wins the shameful "second-highest debt-to- gdp ratio in the world" award.

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This is despite strong advances in efficiencies and productivity across the economy. Simultaneously, Australia’s relative international debt-which is largely private not public debt-worsens at an accelerating pace (even as a percentage of GDP), approaching levels by 2040 that draw into question Australia’s ability to service the debt.

Australia’s foreign debt time bomb. About a decade ago, when foreign debt was $535bn, it was closer to 5 per cent. Back-of-the-envelope calculations suggest a return to 5 per cent would cost more than $20bn a year in extra interest payments, money that could have gone on new cars, smartphones or kitchen renovations.

2 Things You Need to Know to Properly Price Your Home 2 Things You Need to Know to Properly Price Your home view larger Image In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%).

As of 2016, Australia’s total personal debt is around $2 trillion and the average Australian household owes $250,000. This debt can be broken down into the following categories. Mortgages. Australian Bureau of Statistics (ABS) data analysed in the AMP.NATSEM report showed that mortgages for owner-occupier.

In the latest in our Budget Explainer series, Mark Crosby explains debt and deficit and where australia stands. budget explainer: Debts and deficits, is Australia really the worst? Editions

Household debt hit a record $2.44 billion in December, but this was not surprising due to population growth and higher incomes. A more meaningful way to measure debt levels is to express it as a percentage of household disposable income (this is known as the debt to income ratio).

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While not as big a gain as the 23 point surge in debt witnessed in the seven years before the financial crisis, the new data make a mockery. Here are three areas of particular concern: 1. Debt is.

Or, to put it another way, Australia does not have a debt crisis. Far from it. Commonwealth net debt is about 11% of GDP, the third lowest in the OECD (the average is 50%), and low by historical.

Arguably, the debt Greece faces means that it is insolvent. It’s debt to GDP is so large that there is little chance Greece could pay off its debts from current tax revenue. Therefore, it will have to default on at least part of its debt and receive bailout funds. Example of Liquidity Crisis