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Bubble trouble for the RBA

Discussion in 'The Economy' started by Tropo, 4th Feb, 2010.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,396
    Location:
    NSW
    "... An agent from Fletchers Balwyn office told me that 75 per cent of all their sales last year were to foreigners. This is a staggering figure - just think about it - out of every four auctions - only one was purchased by an Australian.
    No wonder we've been attending auction after auction without success. The story is the same across Melbourne's eastern suburbs with agents claiming anywhere between 33 per cent and 75 per cent of sales are now to foreign investors - predominantly Chinese.”...
    more ... Bubble trouble for the RBA | Investor Pulse | Interest rates
     
  2. Chris C

    Chris C Well-Known Member

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    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    I thought these two comments in the same article were hilarious! So clearly a lot of people that expect prices to go up, also agree prices have bubbled, yet are willing to "bet" the bubble won't burst this year and there are still time to cash in on the housing ponzi scheme!