The Aussie apartment boom that has turned into an epic bubble with record, sky-high prices, is showing all the signs for the perfect storm which will ultimately pop. With the popping of the apartment boom, it will simultaneously bring down the Australian economy, as the apartment market is set to have a sizeable correction in 2017 and 2018. A short Look At Australia's Real Estate Market Australian real estate prices have been going up for over 25 years with hardly a pause in between since the late 80's.

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The last time real estate prices fell considerably was when Australia last had an official economic recession back in 1987, when interest rates skyrocketed to around 17-18%. The chart below show the price growth of real estate, rents and CPI since mid 1987. Initially the price growth of Australia's real estate market climbed steadily taking 11 years to double in 1988.

Download Driver Canon Lbp 1210 Cho Win 7 64bit. From there the price growth continued to accelerate with the next 100% increase in price taking 4.5 years to reach. An interesting observation on the chart below is that real estate prices have risen by over 700% since 1987, yet rents have risen just under 300% over the same period. This chart clearly shows that the majority of the price growth was not supported by a fundamental increase in rents to support the higher prices, but rather a massive surge in mortgage debt over the same period drove prices higher.

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Rising Credit Leads To Booms & Contractions In Credit Lead to Busts Professor Steve Keen in the interview shown below highlights his own reasons why he sees a recession coming in 2017 for Australia. Steve highlights a number of reasons for his prediction, including deteriorating terms of trade, the ending of the mining investment boom, the Government's pursuit to cut spending and a reduction in foreign buyers for real estate, among others. However, the most important reason is a deceleration of credit / mortgage debt. Based on Steve's research and economic models the deceleration of mortgage debt growth is the leading cause for all economic downturns globally including the US, Japan and Europe economic recessions, with a correlation close to -1. What all his research shows is that the deceleration of mortgage debt growth leads to a collapse in real estate prices which then lead to an economic recession in those countries. Swap Magic 3 8 Ps2 Iso Zone more.