Scaling back a large skew towards housing

The resilience of our financial regime argues against radical reform but housing drivers are making a lot of people uneasy and there is a case for some tinkering with a system that incentivises borrowing for property.

In the post-financial crisis environment, two of the most obvious issues submissions to the financial system inquiry will highlight are competition and funding. There are no easy or obvious solutions to either.

Post-GFC the banking system, indeed the financial system, is more concentrated than ever with the four majors now controlling about 80 per cent of the banking system.

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