Insane, that's the best word to describe the Australian housing market, Australia property values will plummet 30 to 50 per cent. Australia real estate bubble".
A renowned investment expert who predicted the mortgage bubble burst in Ireland the United States and Spain has warned Australia will be next. Jonathan Tepper Property values in Australia are out of control and the level of mortgage debt in Australia is something like 3.8 times the gross domestic product, he said. Mr Tepper believes the mortgage bubble will burst within the next year as a consequence of the ‘unsustainable level of borrowing.’
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Date: 22 February 2016 at 6:42 PM
Published by: The Daily Mail
Reporter: Martha Azzi
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Category: Australia Real Estate