Australia Mortgage Market Is Now A $1.7 Trillion “House Of Cards” | Zero Hedge

KW: So just how close is the NEw Zealand market to Australia? Very close as advertised daily now (on TV) by a mortgage stacking company called Propeller Property Investments

“This approach allows lenders to report the cross-collateral security of one property which is then used as collateral against the total loan size to purchase another property. This approach substitutes as a cash deposit.  It’s a classic mortgage Ponzi finance model.”

Source: Australia Mortgage Market Is Now A $1.7 Trillion “House Of Cards” | Zero Hedge