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Australian housing is in ‘largest bubble on record’ and will crash

Posted on 17 January 2013

Academic Philip Soos has acknowledged that mainstream opinion is opposed to the idea that a housing bubble exists in Australia, as governments, the FIRE sector (finance, insurance and real estate) and many of his colleagues in academia all claim that prices are linked to fundamentals or intrinsic value.
But noting entrenched views exist on both sides, Soos has repeated his strong belief that evidence suggests the residential property market was currently experiencing a bubble, with prices detached from fundamental valuations. “This appears to be the largest bubble on record, orders of magnitude larger than all preceding bubbles,” he says………………………………………..Full Article: Source


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