7 new rules of financial security

Rule #4. The yanks have learned it the hard way. Wonder how aussies will...

Aussies won't. We are ostensibly Yanks in a different paddock from my observation of both societies.

Only more stringent borrowing regs will save the average Aussies.

Years ago, to get a loan the average family needed 20% deposit in savings.

The Banks did this to protect the borrower (and themselves).

Now, they handball the risk to the LMI crowd, which means the Banks offer more money to borrow, ie; 95% LVR and the like, and the average Mr and Mrs Punter happily takes it.

It's come back a bit from your 95% in recent times of course, but the more funds provided, the more people will happily accept them.
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