My guess Debt is too high ,average income is 50 to 60k and half m house is not sustainable.education is a big industry , and they need cheap living to attract international students and skill worker as well. After watching iron ore and retail sector co sp collapse, I feel, there is something we do not understand. I think, last year housing was supported by commodity boom from 2011 to onward , now commodity prices are down and not going up since last year, hope would shatter and it would effect the housing sector very sharply.
One think very disturbing me, if cos take debt to increase business, eventually, it kill share price. But housing depends more (as compare to ASX co), on debt than equity but it flourishing very well.
Hoping, i would be wrong but it looks very fragile now.
my opinion
could be worse and could be best.
