Not the way anyone I know it would explain it, but I'm not any kind of economist. There was a housing "bubble" (I find that metaphor kind of appalling) but it burst a while back. More recently we've been in a property market where rental prices increased as property prices have dramatically fluctuated. Of course, location varies that and what time-scale you use varies it just as much.
I suppose the answer to your question depends on your terms of reference (ie. why you're asking). Most versions of that question I couldn't personally answer well as I suck at economics. But I might be able to extract something from elsewhere if there was a reason why you cared about the answer.
Catherine (aka: ugh, late night early semester marking)
-----Original Message----- From: lbo-talk-bounces at lbo-talk.org on behalf of dredmond at efn.org Sent: Wed 11/08/2010 00:11 To: lbo-talk at lbo-talk.org Subject: Re: [lbo-talk] Rundle on the Australian election
On Mon, August 9, 2010 9:10 pm, Mike Beggs wrote:
> Don't know if anyone is much interested in the Australian election
> next weekend
Is it true that Australia is in the late phase of an epic housing bubble, and that the bubble is starting to burst?
-- DRR
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