The Australia Housing Market

http://www.futureofcapitalism.com/2009/06/the-australia-housing-market

In an earlier post I suggested that one reason Canada has avoided the worst of America's financial crisis is that in Canada, if a homeowner defaults on a mortgage, the lender can go after assets other than the house. Now John Hempton has a post about the Australian economy noting that while real estate in Australia is "overpriced," in the case of defaults lenders there (as in Canada, but not in America) have "recourse" to the other assets of individuals.

by Editor  |  Jun 30, 2009 at 8:41 am Related Topics:  Housing receive the latest by email: subscribe to the free futureofcapitalism.com mailing list