Analysis published by the Reserve Bank of Australia (RBA) last month shows that these two related explanations could account for an approximate doubling in the debt to income ratio when their effects had fully worked 2 through the system.
1  See ‘Recent Developments in Housing: Prices, Finance and Investor Attitudes’, RBA Bulletin, July 2002, ‘Innovations in the Provision of Finance for Investor Housing’, RBA Bulletin, December 2002, ‘Housing Equity Withdrawal’, RBA Bulletin, February 2003, and ‘Household Debt: What the Data Show’, RBA Bulletin, March 2003. 2  See RBA Bulletin, March 2003, op cit.