Argument over whether Australian housing is in a bubble has dragged on for over a decade. A Google search on the subject draws 600,000 returns. It even has its own Wikipedia page. Three years after the global financial crisis hammered prices in the United States and Britain, Australian home values are just 5 percent below their lifetime highs. Recently, prices have begun to tick up again thanks to lower interest rates and a sound banking system still able and willing to lend. Yet mortgage arrears are negligible, household debt has stabilized, savings are up sharply and unemployment is low, suggesting the housing ... (full story)