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OECD: Rapid rise in house prices could be precursor to economic downturn

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Michael Mata | 13 Mar 2017, 12:00 AM Agree 0
House prices have increased by 250% since the mid-1990s, according to a new report from the OECD
  • | 13 Mar 2017, 02:07 PM Agree 0
    What in Sydney and Melbourne only? The rest of Australia's property market is going backwards.
  • | 13 Mar 2017, 02:07 PM Agree 0
    What in Sydney and Melbourne only? The rest of Australia's property market is going backwards.
    • JimmyH | 13 Mar 2017, 04:24 PM Agree 0
      True, but compared to the US and other developed nations our cost of housing compared to average wages is still extremely high...
  • Frank | 13 Mar 2017, 09:06 PM Agree 0
    sure - maybe - except US commentators started predicting an Australian housing market crash - mostly after they had experienced their own - Global Financial Crisis - triggered by easy-money NINJA (No Income, No Job or Assets) housing loans given out to people who couldn't afford to repay them - and who could then walk away and toss the keys as they have no-recourse loans in the US - compared to full-recourse loans in Australia where if you don't pay your mortgage the banks can come and sell up everything you own.

    Small differences like that - have kept Australia's housing market strong - in fact the strongest in the world immediately after America's joyride down the toilet - and now they come to lecture us ?
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