[lbo-talk] Aussie housing

[Doug Henwood]

Mike Beggs, as I recall, you were pretty sanguine about the Australian housing market. Now I see that Australian house prices are falling. Pretty gently for now, 3.4% for the first seven months of the year:

http://www.theage.com.au/business/house-prices-extend-falls-in-july-20110831-1jkvh.html

Still, bear markets often begin with gentle declines. 

What do you make?

Doug