I will summarise them briefly, before moving on to the more difficult task of making judgments about their economic significance. Those who want more 1 detail can consult the studies listed below. What has happened? 1. Most studies concentrate on movements in the ratio of household debt to household incomes.
Over the past decade, this ratio in Australia has risen from a level that was low by international standards (56 per cent) to one that is in the upper end of the range of other comparable countries (125 per cent). 2. The rise in household debt was mainly due to increased borrowing for housing.