Moody's: Australian banks face home loans danger
A recent report by Moody's rating agency says Australia's lenders are grappling with the highest concentration of home loans in the world.
That is a worry for Australia's economy because, says Moody's, it could see the housing market collapse.
Moody's says Australian banks are over-exposed to residential mortgages on homes which appear to be overvalued.
It says that if house prices fall, a banking meltdown could ensue.
Phil Mercer reports from Sydney.
For more clips visit the Asia Business Report website .
17 Jul 2013
- From the section Business