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Housing Bubble Week: Getting Things Done In Western Sydney - John Hempton
The Joe Walker Podcast
The Role of Credit in Housing Bubbles
Sydney and Melbourne remain in the world's five least affordable cities by price to income ratio. Australia also has after Switzerland the second highest household debt to GDP ratio in the world. To sustain such price rises, ever more credit must be extended to ever more borrowers. Run out of borrowers and you risk killing the bubble.
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