Im confused as to why everyone is bearish on the Australian...

Im confused as to why everyone is bearish on the Australian economy and particularly retail. When people say the DJIA and Goldman Sachs etc. is overvalued I tend to agree. The index is sitting at all time highs. Not so with the Aussie index, heck its way below its peak of almost 10 years ago.

Looking at the charts, I believe Sydney property peaked in 2003 and then slumped into 2009-2011. In between that time retail boomed, up until 2007 anyway. I think people might be overestimating a slowdown in Sydney and Melbourne, other parts of the country Perth Brisbane etc. might pick up the slack. China? Also no where near all time highs, so I don't know why people are shouting bubble when its well below its 2008 and 2015 peaks.

I think you have to take each market on its own merit. At the moment 84 cents for a major Australian retailer is just a little ridiculous. Amazon? Thats taken almost no market share in Canada, the closest comparison to Australia. Myer is undervalued. GLTAH.