Australia is in the midst of "one of the biggest housing bubbles in history"

[krafty]

"Over the past few years, over 40 per cent of all new mortgages originated have been interest-only mortgages.
"This is truly Ponzi financing, where home buyers only make money if their houses keep rising in value," he writes, later describing interest only loans as a "disaster waiting to happen."


Read more: http://www.smh.com.au/business/the-...of-control-20160224-gn2b46.html#ixzz41UtNSGvK
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[krafty]

reading this piece of news and comparing with s'pore, my view on spore property market is that there won't be any lift of ABSD for foreigners. i am in australia now and the angmos i spoke to are still betting on property prices. the rich chinese will not stop coming to australia as to them, coming to live in OZ is a face value thing.

In regards to the bubble and its "pop", have a look at whats going on on Vancouver. They have been preaching Armageddon in house prices for years, its not happening. It never will. Australia has a bubble, no doubt, but in my opinion it will not fail as it cannot fail; there is simply too much riding on it. It is not a free market.

 

[gingerlyn]

why angmoh want to talk to a chinese foreign blue collar driver?

 

[blueRad]

When it comes to housing bubble, PRC property speculators won't be far behind.

 

[krafty]

why angmoh want to talk to a chinese foreign blue collar driver?

your period came and stained your grandma's panty again huh...

 

[krafty]

property investment is the lifeline of aussie economy, if it crashes, OZ boom will become doom.:o