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S W
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Housing Bubble Comparison: US, UK, Canada, Spain, Australia, Japan - Mish - Global Economic Analysis

Hi Mish Recently a fellow bought a $8million 4 bedroom unit overlooking Bondi Beach, 300 sq mts with double garage ie $26700 per sq mtr!! That is a hell of a lot of $aud for what is an ok view. I like Bondi, i live there,but that is way over the top. That said Aust is having a population increase thru new births and migration I believe around 300,000/year and there is a housing shortage. I do not see any real signs of a recession here with unemployment about 5.5% and interest rates about the same. Things appear to be good,nobody I meet is complaining about the economy. The cost of housing is high but has always been that way in Australia. Steve from Bondi

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