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Agree
There's a word for a financial asset that's over-valued by 40%, so let's use it: housing is a bubble. Buying an asset that's over-priced never ends well... In my view, Australian house prices are expensive on every value metric. They are expensive relative to history, and expensive relative to houses in comparable countries.
Agree
Australian houses are much more overvalued than US houses; indeed on some measures, our houses are arguably the most expensive in the world. They're also less affordable.
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