[quote=EconProf]Our real estate bubble was based on foolish monetary and governmental policies and was destined to pop. Australia’s healthy growth rate is based more on their natural reources, decent government, and future prospects, not reckless fiscal and monetary policies. I really don’t know if Australian real estate is in a bubble, or merely reflecting their underlying economic strengths. Either way, she still would have been better off to keep her money at home.[/quote]
Um why haven’t personal incomes kept up?
In melbourne the median house sells for 7.5X medina income.
Now the rise of the Aussie dollar is probably resource sales, but the real estate there?
