Quote:
Originally Posted by marki
Wonder what would happen if China stopped buying?
Mark
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I don't think we'll have to wonder for too much longer - they can only build real estate that nobody can afford for so long, then the 'miracle' will disappear from our economy. At least then we'll be forced to stop using up natural resources for no constructive purpose.
Also Clive, we've been set up for a fall by successive governments; first home buyers grants and loans on easy terms from banks pushed house prices to double their long term historical worth. Once Australia joins the reality of the rest of the world that housing debt will be an enormous burden.