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not just in America, I think we are seeing the same in many major economies of the world - London, China, Australia, Brazil (house price vs income ratio being s
by dharma1 11y ago
not just in America, I think we are seeing the same in many major economies of the world - London, China, Australia, Brazil (house price vs income ratio being significantly higher than before)
Good for those of us who own property but not so great for the rest, and makes you wonder whether it's sustainable.
- jazzyk 11y agoOf course it is not sustainable and will end in tears. Governments around the world have been (re)-inflating asset prices by keeping interest rates artificially low (far below even the official inflation rates, never mind the real ones). This causes an ultimately speculative stampede into assets (stocks, real-estate, etc)