Yup, the banks and other credit providers are still kicking ass in good ol’ benighted Oz. That should put a few hundred thousand more people out of work. We may hope that one day Australians will come to see the connection between a bubble real estate market and economic collapse. That’s what this blog is all about.
However, most journalists and economists still seem to believe a “strong” real estate market and excessive household debt–a burgeoning FIRE sector you may say–is something to which Australia should aspire. [!]
Only if we wish to crucify ourselves further.