| The revision has intriguing consequences for the Australian market. My Australian data comes from cobbling together Nigel Stapledon’s PhD research into long term real house prices from the late 1800s to the ABS data which began in 1986 – and it too is hardly data of the standard that the physical sciences expect.
But that said, the Australian house price bubble appears even more extreme: three times the long-term average, versus “only” twice the long term average when Alan Greenspan told Congress that there was no bubble in US house prices...............................................Full Article: Source
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