Australian Treasurer Josh Frydenberg has met with regulators over the need for plans to address the ballooning levels of household debt. Last Friday, Frydenberg spoke about the current state of the housing market with the Council of Financial Regulators, chaired by the Reserve Bank of Australia (RBA) governor Philip Lowe and which members include the Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC), and Treasury. No immediate decision to crackdown lending was made despite the mounting concerns for high-debt home loans. Sustained record low-interest rates have contributed to a strong growing housing market driven by owner-occupiers rather than investors. “With Australia’s economy well positioned to strongly recover as restrictions ease, it is important to continually assess the appropriateness of our macro-prudential settings,” Frydenberg told The Australian Financial Review. “We must be mindful of the balance between credit and income growth to prevent the build-up of future risks …