- Apr 23, 2016
- 35,839
- 51,780
- AFL Club
- Essendon
*Thousands of young couples chose to borrow an amount, without sufficient understanding of market conditions...
For better or worse, a lot of people rely on the bank to have done their numbers and that the amount they're able to borrow is an amount they can reasonably repay.
The bank has done their numbers, but the amount they're offered isn't an amount they can reasonably repay if conditions change.
Yes, you can argue people should be better educated, but the reality is a lot of people aren't, our education system doesn't really spend a lot of time on it, a lot of people don't necessarily have the education, and for generations that was fine because the banks were pretty conservative in their lending choices.