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)
Australia 189pc 20pc 16pc US 101pc 19pc 8pc Euro Area 95pc 20pc 5pc UK 125pc 14pc 9pc Japan 72pc 17pc 7pc NZ 156pc 18pc 14pc Canada 165pc 16pc 13pc Switzerland 195pc 19pc 10pc Norway 224pc 38pc 15pc Sweden 176pc 30pc 11pc
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- Sydney house prices on a rampage
NY is NY (if you can make it there), not Belleview Hill....
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