Economic depressions appear suddenly, but their foundation builds slowly over years.

As political leaders ignore the fallout of skyrocketing land prices, socio-economic health decays. This inaction fuels unmanageable mortgage debt, surging living costs, fractured families, and organised crime arising from tax-evasion.

Dipping Australian property values appear to be signalling that the real estate market may have peaked, leaving banking, media, and property sectors nervously awaiting the fallout. 

While China’s property bubble has burst, stability is maintained through government control over the banking sector and ongoing financial recovery efforts, despite Xi Jinping’s unsuccessful 2021 push for a property tax.

The West’s final crash signal will likely be triggered by the USA and wrongly blamed on the war in Iran.

The fundamentals, as always, had been set in concrete by tax regimes that favour asset speculation over real wealth creation.