abc program debtland

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    300,000 Australian Households at Risk of Losing Their Homes
    By Dan Denning • March 31st, 2008 • Related Articles • Filed Under
    About the Author
    Dan Denning is the author of 2005's best-selling The Bull Hunter (John Wiley & Sons). A specialist in small-cap stocks, Dan draws on his network of global contacts from his base in Melbourne, Australia and pens the small cap newsletter, The Australian Small Cap Investigator. He is also a contributing editor to the Australian resource investing publication Diggers & Drillers.

    See All Articles by This Author

    Monday Morning Reader Mail
    February Issue of Australian Small Cap Investigator
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    Australian Housing Market Most Unaffordable in the World
    Is the Over-Leveraged Australian Housing Market About to Crash?
    Filed Under: Real Estate
    Tags: housing market • housing prices

    Tonight at 8:30 on ABC1 you can watch a program called "Debtland." We haven't seen it ourselves. But the blurb on the ABC website puts it this way, "Mortgages doled out to people on disability support pensions; loans to refugees with no English and no jobs that leave their families with next to nothing to live on; home loans so large they push borrowers below the poverty line…This isn't America's sub-prime meltdown - it's Australia's debt debacle, the legacy of a credit binge that's sent household debt through the roof and lending standards through the floor. Now the hangover is kicking in."

    "As many as 300,000 Australian households may be at risk of losing their homes. It mightn't take much - another rate rise or two, a family illness or maybe just the car breaking down - to send people under. And for thousands more who are better off but feeling the pressure, this credit crisis is getting too close to home."

 
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