Safe as houses? Not if you live in Australia
55 years of increasing house prices in Australia is about to end and trigger a collapse in the country’s economy, it has been spurred on by governments, the media and cheap credit from banks
According to Jonathan Tepper, one of the world’s property bubble experts, Australia is experiencing the biggest property bubble in history. It has lasted 55 years and seen house prices increase 6556% since 1961. “It is the only country we know of where middle-class houses are auctioned like paintings,” he observed recently. When it crashes Australia’s economy is likely to crash too, as it’s the only sector which has driven GDP growth. It’s one of those rare opportunities traders relish. The volatility in the market will be big and increases the chance of making a huge gain from an investment
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