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Australia's sky-high household debt a ticking time bomb

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Australia is one of the world's most urbanised developed nations despite being the sixth largest country by land mass, concentrating property purchases in built-up areas.

Sydney

AUSTRALIANS are racking up extreme levels of debt to buy homes that are among the world's most expensive, a ticking time bomb that could wreck the economy if it is hit by a sudden shock, experts warn.

While the country is one of the best-performing developed global economies

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