Could liar loans crash the housing market?

could liar loans crash the housing market

Sumary of Could liar loans crash the housing market?:

  • Other ASX banks also have a very sizeable exposure to the housing market like Bank of Queensland Limited (ASX: BOQ), Suncorp Group Ltd (ASX: SUN), Bendigo and Adelaide Bank Ltd (ASX: BEN), Macquarie Group Ltd (ASX: MQG) and MyState Limited (ASX: MYS).
  • There are also property portal websites and mortgage brokers like REA Group Limited (ASX: REA), Domain Holdings Australia Ltd (ASX: DHG) and Australian Finance Group Ltd (ASX: AFG).
  • Some of the many examples include Wesfarmers Ltd (ASX: WES), Metcash Limited (ASX: MTS), Brickworks Limited (ASX: BKW), CSR Ltd (ASX: CSR), Nick Scali Limited (ASX: NCK), Harvey Norman Holdings Limited (ASX: HVN), JB Hi-Fi Limited (ASX: JBH) and so on.
  • Allegedly, the things that people were most ‘not entirely truthful’ about were: not disclosing their full living costs (just over a third), not fully disclosing financial commitments (at 28%) and including rosier-than-reality income figures (at 22%).
  • UBS said: Amid home prices booming 18.3 per cent year-on-year (highest since 1989), we think borrowers are ‘chasing the market’ and stretching towards their capacity limit to be able to qualify.

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