A lot of hot air in talk of Australian housing bubble

Posted by Simon Dehne on March 7, 2016 in Latest News with No Comments

property_auction“They auction middle class property in Australia as if they were selling Picassos,” said hedge fund manager Jonathan Tepper recently, predicting Sydney and Melbourne house prices would soon plunge 50 per cent as Australia’s housing bubble — “one of the biggest in history” — popped.

His prediction that the Australian dollar would slump to US40c and the major banks’ share prices crash 80 per cent in the ensuing crisis has prompted furious debate about the sustainability of Australia’s house prices and the growing mountain of debt that supports them.

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