Why a US-Style Housing Bust & Mortgage Crisis Can Happen in Canada, Australia, and Other Bubble Markets

Even though the housing markets have substantial strength, the world is a very connected place. If China and other economies were to collapse, it might be enough to send the stock markets and real estate markets plummeting. Dent says New York, Los Angeles, San Francisco, Chicago and Boston are the riskiest markets.

Shortly before the american housing bubble burst, pundits across the globe argued. as these reserves would mostly be good in an external debt crisis, not a domestic one (among other things, trading.

More American homeowners are mired in negative equity than at any time since the Great Depression of the Thirties, a signal that the housing crisis has spread to the wealthier middle classes. Over 10% of homeowers owe more on their mortgage than their homes are worth. Bob Corwin bought a condo for $315,000 and spent $365,000 doing it up.

Tony Abbott is in trouble now, not because of some misjudged promises he made just before the election, but because he can no longer hide the reality of his vision for Australia. ideological point.

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The 1973 OPEC crisis saw petrol prices in Australia. other foods like bread and fruit and vegetables grew by significantly more than they have in the past five years. It was these "kitchen table".

But things move pretty fast in politics, and the Liberal Party leadership with which Mr Abbott tottered away narrowly from that ungainly three-way SNAFU back in 2009 has grown, thanks to management,

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Everyone knows that the U.S. housing market caused the current economic funk. But here’s the irony: The American housing market – a principal actor and victim of a bubble. mortgage money in the.

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Such a crisis could easily happen in Australia and Canada where prices are at all time highs, interest rates are climbing and defaults are beginning to increase. No country is immune from housing busts and mortgage crises. And because memories are short,