Ausfalia Housing Market Is Four Times the Size of Economy
Bubble pops when? That was 2017 already and probably worse by now.
Australia’s housing market dwarfs its economy after five years of red-hot price growth. The value of the nation’s homes has ballooned to A$7.3 trillion ($5.6 trillion) – or more than four times gross domestic product. Not even the U.S. and U.K. markets achieved such heights at their peaks a decade ago before prices spiraled lower and dragged their economies with them. “The risk is that it leaves the Australian economy extremely exposed, and a minor shock could become far more significant,” said Daniel Blake, an economist at Morgan Stanley in Sydney.
Interest-only loan crackdown 'could lead to US-style meltdown'
A leading economist is warning that Australia's housing market could be heading for a US-style meltdown as a crackdown on interest-only mortgages forces more homebuyers to start paying off the principal on their loans.
There is nothing the Australian government wouldn't do, no matter how short sighted and self-destructive, to keep the ponzi scheme afloat a little bit longer.
The housing market across the Western world is insane anyway. We can't afford houses but they are then given/rented to the invaders for 'free'. It's pretty brilliant, come to think of it.
Luis Peterson
who the fuck do you think is going to be losing out when the bubble crashes retard. Hint it's not Australians buying houses and leaving them empty
Luis Miller
Similarly… We can't have the same standard of living as post-war boom but governments have fucking billions to throw away on "refugees", "soft power", trade deficits, etc.. but there's always enough for panem et circenses, just enough to keep the discontent from broiling over.
:thinking:
Zachary Hill
If you know of a property owned and left empty by a chink, it needs a squat. The chinks are well known to leave their properties mysteriously unlocked and accessible without any breach of criminal law.
Elijah Hall
what gets given for free to rapefugees is low income housing in order to cull low income white males or force them to compete for higher income jobs
