Tuesday, December 28, 2010

A Post-Holiday Surge in Australia Bubble Articles

From utter silence before Christmas to a chorus of articles. Given how slow data are coming out of Australia, I can't help but suspect that the media, getting early whiffs of trouble, are not in CYA, oh-we-saw-it-all-along-despite-our-previous-endless-cheerleading mode.

Australian house price inflation leads world
Year to year price growth was 9.4%, down from earlier in the year. Year to year March 31 growth was 15.9%.

Australians lap up overpriced real estate at auctions
The emotionally charged auction process, however, has helped fuel Australia’s runaway housing sector, where gravity-defying prices have some analysts warning of an impending implosion that could drag down the country’s long-running economic prosperity.

Down Under housing market booms, Canada simmers: Scotiabank
Canada, by contrast, saw higher housing prices, but only about half of Australia’s, or around 6 per cent. And now Scotiabank is ambivalent about the prospects for the coming year.

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