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Australia: RBA says housing bust unlikely

Posted on 12 April 2012

A repeat of the housing market meltdown in the United States is unlikely to occur in other markets, including Australia, a senior Reserve Bank of Australia official says. National house prices have fallen about 5 per cent over the past year in Australia.
The head of the RBA’s financial stability department, Luci Ellis, said that in most countries mortgage distress increased during economic downturns………………………………………..Full Article: Source


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