Heres some good news, well its good news if you are looking for a house to buy. The housing bubble is going to burst:
AN international group has predicted that the housing bubble in Australia is yet to burst.
The public policy group Demographia says a comparison of median house prices with median household incomes in Australia, Canada, Ireland, New Zealand, Britain and the US found Australia has the most cities in the "severely unaffordable'' category - where house prices are more than five times the median income.....
Demographia says affordability in Australia is worsening relative to Britain, Ireland and New Zealand, where prices have recently collapsed. Australia will be next, it said.
The government should do absolutely nothing to prevent this. Let the market work and give a chance for home buyers to enter the market.
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