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The Australian housing market is on fire
We just got further confirmation that the Australian economy is becoming increasingly unbalanced and reliant on housing as its only growth engine. Total dwelling units (all housing of any type) rose a spectacular 9.1% to follow on from December’s already massive 7.9%. Of course the RBA wants housing to be built to loosen up supply and increase employment. But, even accounting for the shift toward increased housing density, the break-up of the data suggests there is a large speculative element in these approvals is the fact that “private sector dwellings excluding houses” rose 23.6% in January following on from ... (full story)
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