Re: Australia housing bubble
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People complaining about capital city prices are one thing but have a look a what people are paying for northern N.S.W around Mullum and up to the border. It has me scratching my head how they can justify the prices. Unless you are a tradie your only employment would be service industry. Stuff all else to rely on and if it is majority Sydney retirees on super driving that economy they best hope a sharemarket crash doesn't happen along with a housing downturn.
My rellies bought into Mullum 40 years ago, the last of them has a land holding of 100 acres or so. When he thought about selling a few years ago his appraisal was $750-800 grand. That now is an average price for a town block with an house or alternatively you can spend $750,000 and buy ONE acre a short drive out ! Then you can build your dream home.
One word , CRAZY.
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