Australia (CU)_Australia’s entire east coast, which is home to the vast majority of the country’s population, is currently suffering a record housing collapse that is only going to get worse given that the bulk of borrowers have not yet experienced considerable hardship from mortgage repayments.
The Brisbane and Gold Coast housing markets, which had been defying gravity for a few months, finally succumbed in August. Adelaide follows closely. The housing crash’s epicentre is still Sydney. Since the RBA’s first rate increase at the beginning of May, they have been declining at a rate of 19% on an annualized basis. There is little use in disputing that Aussie housing is likely to endure its greatest decline since records began in the early 1980s, even though I am aware that these facts are unsettling for real estate shills.
If you are half-smart, you will concentrate on…
