Wow....nonrecourse....what a post. I'm not sure whether its brilliant or the ramblings of a madman. :D
I think i'm leaning to the former tho as i'm a self confessed bear and getting more bearish by the day.
Looks like more and more financial/property spokespeople are jumping on the financial...
I'll have a go. I think what he's saying is that a LOT of cashflow (personal i suppose) is used to pay debt.
Most of that debt is used to pay mortgages so Australia wealth is mostly tied up in residential property.
Something like that. Any other takers?
