Sydney is currently at 12:1 [1]

Mortgage fraud could be on the increase. Australian Securities & Investments Commission warns of bad practices. [2][3]

[0] Michael Lewis "The big short"

[1] http://mobile.abc.net.au/news/2016-01-25/housing-costs-in-australia-second-only-to-hong-kong/7111490

[2] http://www.news.com.au/finance/business/banking/mortgage-fraud-is-the-dirty-secret-that-could-spark-a-financial-meltdown-economist-warns/news-story/53bf8bf125b31e39e0d05c61b3f34d06 [3] http://www.theaustralian.com.au/business/financial-services/asic-warns-of-sophisticated-mortgage-fraud/news-story/9559731bf3aa96f599e7f1e2f3e9bdf3