Housing Bubble Week Epilogue: Not All Bubbles Are Created Equal - Vernon Smith
The Joe Walker Podcast
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Narrative Economics: How Foreign Buyers Influence Australian Housing Markets
The RBA, the Australia Central Bank and the Reserve Bank of Australia did a study in 2014. They concluded that while foreign residential purchases change a bit from year to year, they have been relatively steady or low as a share of turnover in the Australian housing market. The Treasury said on average, quarterly property prices were increasing by $12,800 in Sydney and Melbourne, but foreign demand increased prices by between $80 and $122. 64.4% of respondents picked foreign investors purchasing houses in Sydney, which was higher than any other category. When he asked another question, 77.9% of respondents disagreed or strongly disagreed with this statement. Foreign investment has no impact or very small impact on
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