[lbo-talk] comments on Australia

[Mark S]

Doug Henwood wrote:
>
>Yoshie was wondering the other day why the lefts in the U.S., Britain, and 
>Australia had so little influence compared to those of continental Europe. 
>All three countries are obsessed with homeownership, and have all 
>experienced recent housing booms. Do other countries experience similar 
>booms?
>
Housing starts in Canada in 2003 were at their highest level since 1989.  
2004 starts should be a bit lower thanks to higher mortgage rates.  Given 
the taxes on dividends and interest income in Canada, buying real estate 
seems like a rational investment choice to me, especially for families with 
pension plans.  The conservatizing effect of long-term debt is, of course, 
another issue.


>Doug

Mark

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