Already Second Highest In World, Australia's Household Debt Problem To Get Worse

While the Assuies have not have a recession in 25 years, Australia’s household debt has long been a concern among many. Indeed, in 2016 JPMorgan called Australian housing shorts the new “widow maker” as hedge funds were unable to profit off of the bearish bets. Specifically, Bloomberg noted at the time: “Shorting the Australian housing market has been a widow-maker trade and I think it will continue to be the case,” Dey wrote in the note. “Australia is a unique housing market and sometimes offshore investors don’t realize the key differences,” he said, pointing to factors including tax breaks that…