Quote:
Originally Posted by macker
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. |
Interestinly, FP just published this article less than an hour ago - rather bold prediction by the author. On a side note, the segment from The National had a panel member reference Australia as a "soft landing" . . . so far?
http://business.financialpost.com/20...ays-economist/
Albert Edwards, economist with Société Générale, put out a note on Thursday morning whose title says it all: “The biggest bubble in recent history is heading for the mother of all hard landings.”