Sydney property prices are going berserk
Find below the latest RPData daily house price chart for Sydney up to the day:Hmmmmm.....maybe Albert was right:
This index is volatile and should not be taken literally. However, in trend terms it is a reliable indicator and there is no mistaking where it is going (unless you work at the RBA). Over four months it has added 10%, an annualised rate of 30%.
If left to run, Australia’s largest city is going to blow up the economy.
Société Générale's Albert Edwards Warns that Central Banks are Ignoring Housing Bubbles amid Market Euphoria - "Just like in 2008"