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How was the property market crash in the US not a case of a bubble bursting? Some other obvious cases would be Ireland and Spain around the same time. How they
by tmnvix 9y ago
How was the property market crash in the US not a case of a bubble bursting? Some other obvious cases would be Ireland and Spain around the same time. How they were inflated and what triggered the collapses is irrelevant. The pattern is the same - speculation drives prices to unrealistic levels and eventually a major correction occurs.
- jazoom 9y agoAustralia was pretty much unaffected by all that. And it seems OP mentioned that subprime bubble.
- tmnvix 9y agoOP was implying that because the US property boom and bust involved deception ("scam driven") that it wasn't a real bubble - only close to a bubble. OP never mentioned Aus - only that they had heard a lot of talk of bubbles but hadn't identified any. I was just giving a few recent examples that I'm sure most would agree qualify as such.
- jazoom 9y agoThis whole thread is based on an article about Aus. I think it's reasonable to take people's comments in that context unless otherwise specified.