Feb
22
Why Some Think Australia’s Housing Market Is Due for a 2008 Moment
ByThat’s not a housing bubble, this is a housing bubble.
Insane. That’s how Jonathan Tepper, chief executive officer at research firm Variant Perception, described Australia’s housing sector in a word, painting the picture of a market that’s strikingly similar to that of the U.S. prior to the financial crisis.
A local 60 Minutes segment that aired on Sunday titled “Home Groans” chronicled some of the eye-popping events in the nation’s real estate market, with amateurs owning (and under water on) multiple homes with no tenants, interest-only loans increasing in prominence, price-to-income ratios at elevated levels, and home auctions attended by the community and captured for the small screen…
Why Some Think Australia’s Housing Market Is Due for a 2008 Moment
