"The housing boom in Australia is now an escalating bust. Many Australian homeowners put every cent they had into their homes and they needed double incomes to just scrape by. Unfortunately, those jobs are disappearing in a construction and commercial real estate bust.
I warned about this event for years, but in Australia, like everywhere else "It's Different Here" until it's not.
60 Minutes Australia picked up the Secretly Broke story in "The Big Squeeze". Click on link for a 60 Minutes video. Here is a partial transcript.
I warned about this event for years, but in Australia, like everywhere else "It's Different Here" until it's not.
60 Minutes Australia picked up the Secretly Broke story in "The Big Squeeze". Click on link for a 60 Minutes video. Here is a partial transcript.
ALLISON LANGDON: To the world, Tracy and David Dodd are the very model of Australia’s relaxed and comfortable middle-class. They’re living the dream – three kids, a mortgage and a suburban family home on an acre block. But Tracey and David have been keeping a secret from their family and friends – they’re drowning in debt. No-one to look at you would think that you are struggling..."at http://globaleconomicanalysis.blogspot.com/2011/08/secretly-broke-in-australia.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
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