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Where's The Money Going?

The Reserve Bank of Australia is still scratching it's head worrying about the housing boom. This week it has commissioned a survey of Australian households focusing on the extent to which households use mortgage finance for non housing purposes.

The survey is being conducted on behalf of the Reserve Bank by Roy Morgan Research. Over coming weeks, Roy Morgan Research and the Reserve Bank will be writing jointly to 10,000 households seeking their co-operation in the survey. Will people be telling Roy all about the 3 plasma TV's and extra four wheel drive they bought with the home loan?-We doubt it! The Reserve Bank’s analysis of the survey will be published later in the year.

Posted Saturday, 15 January 2005

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