The global bubble has burst, but the bubble is still a big deal in Australia.
In fact, it’s probably the biggest bubble in Australian history.
In the United States, the bubble peaked in the early 1980s.
The bubble burst in late 1999, when home prices reached $200,000 and began to decline.
But that bubble was driven by a group of bubbles that included: the dotcom bubble, the dot-com crash and the dot com bust.
The global housing bubble peaked at $1.8 trillion in 2001.
Since then, home prices have dropped a little more than 10 per cent a year.
But Australia’s housing market has grown twice as fast as the US, according to data from CoreLogic.
It’s the second-biggest global housing market after the US.
And while the housing market in Australia has been on a tear, the real estate market in the country has not.
“We are very resilient in terms of affordability,” Ms Linnell said.
“In fact the median house price in Australia is about $400,000.
That’s a huge difference from other countries, especially in the developed world.”
It’s very hard to find that sort of affordability.
“She said the housing bubble was just one factor driving the Australian economy.
It was a combination of the housing price bubble, a lack of supply and rising interest rates.”
There are lots of factors that contribute to the housing affordability, but a big factor is the property market,” Ms Curnoe said.
The big factor in housing affordability was the property bubble.
But the other factors were far more significant, including a high level of public debt, rising household debt and low incomes.”
You’re talking about the lowest ratio of household debt in the world,” Ms Hatton said.
And if that was the case, why was the economy so fragile?”
People have to be able to save to pay their bills,” Ms Kavanagh said.
Topics:housing,housing-industry,economy,business-economics-and-finance,financial-market,australia,canberra-2600,actFirst posted September 08, 2020 05:39:00Contact Adam StuckmanMore stories from Victoria