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Unfortunately - due to the dreadful fires - tourism is also crashing, and there is a big economic cost that will be felt overall.

But meanwhile Sydney house prices have rocketed back over the $1 Million mark due the RBA’s crazy interest rate settings.

You’ve got an economy going in one direction while you’ve got house prices going in the other. It’s a house of cards. And it’s all due to the RBA’s crazy low interest rates, which have propped up and then reinflated a crazy bubble that is looking more and more exposed by the day.