Recently I spoken to this acquaintance that was quite knowledgeable on the Australia side of things. I always wonder why Big Idea 2 has a significant exposure in Australia. Thus, this gave me an opportunity to ask more about the property market in Australia and especially those projects relating to Big Idea 2.
|
| Picture taken from britannica.com |
Below are the information I remembered. Do note that I did not verify all the information and these are just pieces of our conversation.
1. The Australia Government made it hard to purchase properties in the country
(read article).
2. Australians are not good savers and due to Basel ruling, banks are unable to lend out too much.
3. On the other hand, Australia Banks are also very conservative. During GFC, these banks had almost no exposure. However, being conservative, they also did not “go out and grab more market share”.
4. ...
...
