| Bureaucratic obstacles are helping prop up Australia’s A$4.5 trillion ($4.4 trillion) housing market and neutralizing the biggest risk to the country’s mortgage bonds.
While affordability measures such as household debt and home cost-to-income multiples exceed peaks seen in the U.S., U.K. and Spain, prices in Australia are showing signs of stabilizing after dropping 7.6 percent from their November 2010 high. That’s because there’s one missing ingredient for a property collapse: oversupply...............................................Full Article: Source
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