The 2008 financial meltdown caused millions of Americans to lose their homes, and the austerity measures that followed only widened income inequality and helped fuel the rise of right-wing populism.
(AP Photo/Tony Dejak)
Right-wing populists have exploited key weaknesses in liberal democratic society that were exacerbated by the failure of political leaders to respond effectively to the 2008 financial crisis.
The Financial Services Royal Commission has exposed some irresponsible lending by Australia’s biggest banks.
Glenn Hunt/AAP
The financial institutions fronting the Financial Services Royal Commission are also the ones controlling mortgages, so will an expose of their dealings push property prices down?
Single women borrowed heavily in the run-up to the financial crisis, ensuring they suffered the most in its fallout. Will history repeat itself?
Product intervention powers apply across investment, insurance and credit products but it will never be easy for ASIC to prove the risk of “significant consumer detriment”.
Dan Himbrechts/AAP
Research shows the majority of consumers have low financial knowledge and experience, but they are also prone to behavioural biases that don’t help.
A real estate sold sign hangs in front of a west-end Toronto property. Canada’s newly announced housing strategy contains scant measures to help first-time buyers in pricey markets.
THE CANADIAN PRESS/Graeme Roy
Canada’s National Housing Strategy leaves a large segment of the population that must find a way to afford housing in the private market. More initiatives are needed to help first-time home buyers.
It’s not just individuals who pay for low financial literacy. It also increases financial risks and holds back the economy.
Bank lending standards need to be more consistent to avoid borrowers shopping around to find the lender that offers them the highest loan amount.
Paul Miller/AAP
It’s not likely the Australian appetite for property will change but this means we need to hedge our bets against any risks by improving diversification and the way banks finance mortgages.
Declining home ownership among young people has implications for their long-term financial wellbeing and indeed for the retirement income system.
Dan Himbrechts/AAP
The amount of Australians in mortgage stress is the reason why wages growth and the labour market are such a problem - and a big reason for the RBA not to raise rates any time soon.
Slow but steady decline in home ownership continues as 23.6% of all Australian households now rent privately.
David Gray/Reuters
The latest 2016 Census data assesses what the national home ownership and rental rates are and how these vary location. It also gives us a picture of mortgage and rental costs.
Data from the Australian Prudential Regulation Authority (APRA) reveals the average balance on housing loans has barely trended upwards over the last five years.
Tracey Nearmy/AAP
The Hollywood flick recalls subprime’s role in the 2008 financial crisis, but, by helping more low-income households buy a home, the loans can help ease the affordability crisis and homelessness.
Deceitful Chinese may have trouble getting a mortgage in the not-too-distant future.
Dragon faces via www.shutterstock.com
China plans to create a credit reporting system that ranks people on trustworthiness using a all kinds of data, from finances to Facebook. Sound far-fetched? It’s happening in the US too.