ML-Implode News - Here Comes The Housing Bust "Reverse Wealth Effect," (AU, UK and CA kick into full downswing)

House prices â€˜falling by over $1,000 a week' in Sydney and Melbourne, Deloitte says... The boom time is over and we're now officially experiencing the "house price fall we had to have", according to Deloitte Access Economics's latest business outlook.
It has found what many had been predicting: prices are dipping as interest rates are rising, with our biggest cities feeling the winds of change most keenly.
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The above chart shows that the UK -- which had an epic housing boom along with, not coincidentally, one of the world's most extreme consumer credit bubbles -- now has falling home prices. Australia just tipped into negative territory with Canada right on the cusp.

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Here Comes The Housing Bust "Reverse Wealth Effect," (AU, UK and CA kick into full downswing)