Why Australia’s Housing Bubble is Critical to its Economy

As is the case in the U.S. housing market, many Australian homeowners who are having difficulty affording their mortgages have had relief from payment deferrals. Yet the banks who are granting these deferrals are still accounting for these loans as performing loans. Once deferral periods end, it will result in defaults and foreclosures as well as many rental vacancies. This will be especially critical for an economy that’s become far too dependent on frothy housing market bubbles.

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Dan Amoss

Dan Amoss, CFA, tracks aggressive accounting and other red flags that markets miss. He’s a student of the Austrian School of economics and Daily Reckoning fan since 2000. Agora Financial relies on Dan for macro market commentary as well as profitable plays like his 2008 call to readers to buy Lehman Bros. puts, which...

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