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  • What happens to the Australian real estate market? Part 2.

    In the first part of my article “What happens to the Australian real estate market? Part 1” we established an unusual feature of the last episode of price deflation in the housing market — the absence of traditional drivers, such as high unemployment and a rise in mortgage rates. Housing prices in Australia declined despite of strong hiring rates (what leads to income growth and high consumer confidence) and stable mortgage rates.