John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

Facts are facts. If there has been an increase in the repossession rate then it has occurred. But the Reserve Bank’s September 2006 financial stability review noted that the housing loan arrears rate has increased from a low of 0.17 per cent of loans outstanding in June 2004 to 0.3 per cent now. It stands to reason that, if at a time of very low interest rates people borrow a great deal more than they did during high interest rates, some people will borrow more than they can afford. It also stands to reason that if you have a state government that imposes penal rates of exit tax—

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