Over current years the household sector in Australia has become net borrower which is consumption exceeding income, in this condition makes low savings for Australian households. This effect does not mean that there are not some high savers in Australia, but rather their surpluses are balance by the deficit of dissavers such as retirees. Is this happens because of Australiaâs highly developed financial sector and wide range of debt instrument so this is easier for Australian residents to borrow for consumption expenditure. (from my opinion) Please feel free to comments and express your view to help me find out the reasons Iwan Chandra
Maybe the rates the banks pay isn't as high as the rate at which money supply is increasing? Might as well invest in hard assets if you have extra money, otherwise.
easy access to borrowings... advertising and marketing everywhere, it's so easy to find something to buy. just my 2c
Its the same as the US. Growth in house values. Loans on your equity. Why drive a ford when ur neighbour's driving a bmw. Advertising and cultural driven expenditure despite the highest tax environment in the real world. Paid for by mineral exports to Asia. How bad is it to sell Uranium to china and india. Is the arms supplier responsible for the killings (the coal salesman for the greenhouse gas emissions). De Nile is a river in Africa