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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (68637)8/23/2006 9:15:00 AM
From: basho  Read Replies (1) of 110194
 
I think it's a considerable exaggeration to say house prices are crashing here in Oz. Some previously overhyped marginal areas have been hit hard -- as per the SMH article cited the other day -- and certainly much of the heat has come out of the residential RE market but mortgage borrowing is so high that the RBA is making unhappy noises. Again.

Also, Australia is in the midst of its biggest ever resources boom which is creating very rapid growth in WA, the NT and Queensland. Mixed bag, really, with the latest consumer confidence figures falling off a bit of a cliff. In general terms, I don't think anything like reality has yet hit other than in isolated pockets although the day may not be far off, IMHO.
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