The financial collapse in 2008 was the tipping point of a worldwide housing collapse that started in 2006.
Two housing bubbles escaped the worldwide carnage: Australia and Canada.
But the tide has started to turn in Australia, which is home to the most unaffordable city in the world - Sydney.
Above is a newstory which aired on last Friday on Channel 7 in Australia. It gives you a glimpse of what is coming for Canada, home to the 2nd most unaffordable city in the world: Vancouver.
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get out of the market because from what I hear the people just realized that the pig is wearing lipstick and does not lay golden eggs.
ReplyDeleteFor an excellent commentary of just exactly how and why.... and its surprising how close Australia and Canada followed the exactly same plan to "weather the storm" ... look for speeches by Steve Keen.
ReplyDeleteThanks for keeping us informed.
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