Quote:
Originally Posted by bizaro86
The european debt situation is definitely interesting. It's kind of like musical chairs. Everyone knows there isn't enough money to pay back some of that debt, so they're passing it around to see who gets stuck with it.
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Also watching Australia is very interesting right now as their economy is very similar to ours and the housing situation is also quite similar. The Reserve Bank of Australia cut rates in November and December 2011 and that did nothing to restore confidence to the housing market so they again just recently cut rates by another 50 basis points
. Australias housing market is buckling under the pressure of high household debt.