Just like in Canada, a large percentage of the Australian economy relies on real estate to continue to expand. It’s not just about building houses. There are many services, contractors, equipment, and more that go into each and every home. With such heavily reliance on one particular industry, when downturns occur, the effect can be dramatic. We have seen the tip of the iceberg when it comes to what Australia is headed for.
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Reserve Bank says rate cuts and QE possible as Australian housing enters 'uncharted territory' - ABC News (Australian Broadcasting Corporation)
https://www.abc.net.au/news/2018-12-07/reserve-bank-raises-prospect-of-rate-cuts-or-even-qe/10593562
Housing Dream Turned Nightmare Spurs a Backlash in Australia - BNN Bloomberg
https://www.bnnbloomberg.ca/housing-dream-turned-nightmare-spurs-a-backlash-in-australia-1.1217081
residential-buildings-stand-in-the-green-square-area-of-sydney-australia-on-saturday-jan-12-2019-prices-in-australia-s-biggest-city-have-tumbled-10-percent-and-some-economists-are-tipping-a-similar-fall-this-year-while-the-central-bank-isn-t-panicking-just-yet-a-15-percent-nationwide-drop-in-prices-would-cut-about-a-1-trillion-720-billion-from-the-housing-stock-value-photographer-brendon-thorne-bloomberg.png (620×349)
Here Are the Winners From Australia's Property-Market Downturn - BNN Bloomberg
https://www.bnnbloomberg.ca/here-are-the-winners-from-australia-s-property-market-downturn-1.1222704
residential-buildings-and-houses-stand-in-sydney-australia-on-saturday-jan-12-2019-prices-in-australia-s-biggest-city-have-tumbled-10-percent-and-some-economists-are-tipping-a-similar-fall-this-year-while-the-central-bank-isn-t-panicking-just-yet-a-15-percent-nationwide-drop-in-prices-would-cut-about-a-1-trillion-720-billion-from-the-housing-stock-value-photographer-brendon-thorne-bloomberg.png (620×349)
Chinese Exodus Exacerbates Australia's Property Slump - BNN Bloomberg
https://www.bnnbloomberg.ca/chinese-exodus-exacerbates-australia-s-property-slump-1.1225533
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Home builders start laying off workers as they face sharp downturn - ABC News (Australian Broadcasting Corporation)
https://www.abc.net.au/news/2019-03-22/home-builders-face-big-housing-downturn/10925890
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