Relevant:
- Australia Roundup: Hundreds of Restaurants Close Rather Than Pay 250% Holiday Rate; Massive Housing Incentive, Still No Buyers
- Pool of Greater Housing Fools in Australia Finally Runs Out; OZ Dollar, Where to From Here?
- Australian Lenders Learn Nothing from US Housing Bust: Mortgage House offer 105% Mortgages, Westpack offers 97% Mortgages
- Home Sellers Get Realistic in Australia; Mining Companies Going Bust in Record Numbers; Australia Headed for Disaster Zone
- Global Bust II - Perfect Storm for Australia; How Safe is Australia's Banking System?
2012-07-31 — blogspot.com
On a timeline basis, Australia is about where the US was in 2006, essentially a state of denial.
Developers are offering massive incentives such as cars, furniture, and vacations to move homes while chanting the ever-popular "now is a great time to buy a house" mantra.
Read more at http://globaleconomicanalysis.blogspot.com/2012/07/shades-of-2006-thats-what-australia.html#5ZDSY8EM7fxCdxre.99
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