If interest rates do continue to go higher and stay elevated, the Australian housing market could well see it's first real crash. Brisbane is currently falling at the fasted rate across all of Australia and is closely to see it's largest peak to trough decline ever.
Considering we artificially create a giant housing bubble through government intervention and ultra cheap debt, we could start to see accelerating house price declines like what's currently happening in Brisbane.
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Interest rates going higher, page-42
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