My Opinion: You cant Build an Economy solely off of Real-estate ! RATES NEED TO GO UP! You will see Massive defaults by 2020 ! Chinese buying will dry up ! Its a Bubble on a Bubble on a Bubble and its taking down Middle Class Hard working Australian Families Down with it !
The party is finally winding down for Australia’s housing market. How severe the hangover is will determine the economy’s fate for years to come.
After five years of surging prices, the market value of the nation’s homes has ballooned to A$7.3 trillion ($5.6 trillion) — or more than four times gross domestic product. Not even the U.S. and U.K. markets achieved such heights at their peaks a decade ago before prices spiraled lower and dragged their economies with them.