...and the politicians STILL say we have dodged a bullet ?????

https://independentaustralia.net/business/business-display/the-road-to-private-serfdom,8870

Australian Property Market.....

Australia's property bubble could also be the lead domino.....

It bears no relationship to ANY reality anymore.....

https://www.ainsliebullion.com.au/gold-silver-bullion-news/-e2-80-9cbiggest-housing-bubble-in-history-e2-80-9d-e2-80-a6-/tabid/88/a/1174/default.aspx

http://www.bloomberg.com/news/articles/2016-02-22/one-sign-australia-s-housing-market-is-due-for-a-2008-moment   (watch the video)

I was living on the Gold Coast in the early 80's and saw how crazy the "buying off the plan" spree went..... and when it went poof, properties were selling for less than half of previous prices. One property was even resold 5 TIMES in the preceeding 12 months !!! And yes - I met the poor fellow who was the last one.