Yeah, a half billion dollar surplus a year ago is now a 350 billion dollar deficit. Looks like VIC will be ground zero of this property downturn. 1000 jobs being lost every week.
Job losses = falling asset values = more job losses.........rinse and repeat. Basically a mirror image of how an asset bubble inflates, but this time in reverse.
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auctions sold at a 10 year low & growing fast, page-3
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