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05/09/21
14:55
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Originally posted by Crom Valen:
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You'd have to think the bubble/s will burst, but the central bank/s and government/s sure have thrown the kitchen sink into keep the bubble/s inflated and inflating. Eventually they will reach the limit of their ability to keep it inflated, and it will collapse under its own weight. One thing that irks me no end is all the people who think they are financial geniuses just because they are going around buying and selling property and taking on increasing amounts of debt with each move they make. They are only playing chicken with inevitability. The bubble/s would have popped multiple times by now without massive government and central bank intervention: the best analogy I can use is a poor swimmer who keeps going to the beach, swimming out and getting into difficulty, and having to be rescued by the lifeguards. Yes, he's lucky. Yes, he's fortunate. No, he isn't a great swimmer. No, he does not deserve to continue to be rescued if he persists in his risky behaviour.
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I am one of those who believes that we do have a housing bubble, and as with all market bubbles, it will burst. Sooner or later, the Aussie housing market will reach a critical state i.e. full of fingers of instability - but we don't exactly know when.