Thursday, October 24, 2013

Australia: Sydney Housing Price Gains Annualizing at 30% p.a.

From Macrobusiness:
Sydney property prices are going berserk
Find below the latest RPData daily house price chart for Sydney up to the day:
ScreenHunter_60 Oct. 23 06.33
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.
Hmmmmm.....maybe Albert was right:
Société Générale's Albert Edwards Warns that Central Banks are Ignoring Housing Bubbles amid Market Euphoria - "Just like in 2008"