NY is NY (if you can make it there), not Belleview Hill....

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    NY is NY (if you can make it there), not Belleview Hill. Affordability is more the question:

    If the troubles persist in Hong Kong Syd will soon take the number 1 spot if not already. If it is not a gigantic bubble then what is underpinning it as "fair value"? Many pundits think USA is approaching housing bubble 2.0 also, however their economy has a far healthier cycle of recession every few years and housing prices move in both directions. Unless you believe there is something unique about Australia and that for us perpetual growth is not a myth... something is very broken. Australia should be number one in the world at Cricket & Rugby not housing affordability and debt.

    https://www.realestate.com.au/news/sydney-remains-second-least-affordable-housing-market-in-the-world/
    Country

    Debt level

    (Percentage of income)

    Debt gearing

    (Percentage of assets)

    Debt servicing ratio

    (percentage of income)

    Australia189pc20pc16pc
    US101pc19pc8pc
    Euro Area95pc20pc5pc
    UK125pc14pc9pc
    Japan72pc17pc7pc
    NZ156pc18pc14pc
    Canada165pc16pc13pc
    Switzerland195pc19pc10pc
    Norway224pc38pc15pc
    Sweden176pc30pc11pc

 
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