Part 6/8:
However, scrutiny arises when looking at consumer debt levels in Australia, which are among the highest globally, reaching approximately 160% of disposable income. Despite the banks' role in siphoning debt through credit offerings, a cautious approach is warranted. Lending practices have become aggressive, with some instances of individuals borrowing as much as 95% of purchasing costs, echoing concerns raised during the pre-Global Financial Crisis (GFC) era.