Recently economist Chris Joye highlighted a chart published by The Economist which challenges their suggestion that Australian property is overvalued and likely to crash.
As you can see the graph below shows international house prices in real or ‘inflation-adjusted’ terms since 1975.
Compared to Spain, Singapore, New Zealand, Ireland, France, Britain, Canada, Belgium, and the Netherlands, Australian house price growth has been relatively run-of-the-mill…
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