very interesting article in tTHE AUSTRALIAN last weekend heading "IMF (International Monetary Fund)was roght: our husing situaltion is appauling and needs addressing"
It went on to sayapart from how the Aussie RE market is so overpriced and GOVT's Reserve Bank and banking practises haev led to this unsustainable position but i will quote this....
" A more amusing example,sourced from Lindsay David's 'Boom to Bust' and independently verified, is that the medium price in Mildura,a town on the Victorai/NSW border with a population of 30,000 people,is broadly similar to house prices in Chicago, the 3rd biggest city in the US"....
LOL this is madness utter madness...the Australian house of cards is about to collapse...imagine comparing Mildura to Chicago...oh my god
the world's most overvalued property, page-4
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