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bollocks, the US doesnt have a housing shortage, we do, we may have stagnation but not the ridiculous correction you suggest. Also we have a little thing called a resources boom Its rents that drive prices, and believe me, rents are still going up here. i think SA grew by 16 000 people recently, first time in years its grown in pop. Skilled Immigrants from say the UK sell their old council flat for a million pounds, a 500k au house is peanuts to them.
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