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Australia: Housing sector still in the doldrums

Posted on 29 March 2012

Home owners and developers have felt the icy blast of the deteriorating conditions in the residential market which have triggered a rise in mortgage arrears and profit warnings.
Late payments on mortgages jumped unexpectedly at the end of last year despite a stable economy, a credit ratings agency said. The increase suggests mortgage pain is taking its toll on the already stagnant housing market………………………………………..Full Article: Source

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