| From Ninemsn.com.au: According to Westpac Bank, any bubble in the Australian housing market is more myth than reality as house prices and affordability issues are reflecting a structural imbalance between supply and demand rather than any pricing bubble.
The bank's chief economist, Bill Evans, notes measures that take into account all dwelling types, after-tax income and financing costs show housing prices have broadly tracked income growth over the past seven years. As well, typical mortgage payments as a proportion of household income are below peak levels..............................................Full Article: Source
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