Much of my work revolves around analyzing Australia’s land and housing markets, given the residential real estate sector has blown into the largest housing bubble in its history. I became aware of this in 2007 when acquainting myself with the works of the small number of economists who identified the US housing bubble and predicted the subsequent GFC. Applying their analysis of the US to Australia, it became obvious housing prices were driven up by rampant debt-fuelled speculation in the residential property market. A downturn in the land market, combined with the end of the mining boom, will result in widespread hardship for Australians.
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