The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: Haim R. Branisteanu who wrote (221)	4/3/2017 6:16:51 AM
From: elmatador	Read Replies (2) of 13784

Bubble down under: Australian homes Figures released today show that the number of new homes approved to be built rose 8.3% in February, further sign of frothiness in a market that already looked a little too lively. Prices rose by 7.7% in the year to December, and particularly rapidly in Melbourne and Sydney, where they have doubled over the past ten years. Earning power has not kept up: the price-to-income ratio is higher than in most other rich countries (see chart). Household debt to income, at about 180%, is at a historic high. No wonder the OECD is nervous about the risk of a “rout”. National regulators are worried too. Measures they introduced in 2014 have not cooled the market; on Friday they slapped restrictions on banks’ issuance of interest-only mortgages, and say they are ready to do more if needed. Australia has not had a recession for 25 years. If that streak is to continue, regulators must not break out the champagne yet. espresso.economist.com

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