The Melbourne Property Bubble

The idea that Australia only ever had three asset bubbles is kind of quaint in my view, but it may be true that we only had three ridiculously off the scale, enormous ones. There was some bubbly behaviour in the early 19th century. Melbourne was in 1885, probably the richest city in the world per capita. And the bubble took that to its illogical limit. It's definitely stronger in Melbourne, but prices still.