Australian house prices in 2012 - By Steve Keen

The ABS house price data for December 2011 has just been released, and it shows that house prices fell 4.8% in nominal terms between December 2010 and December 2011. The usual suspects are already trying to see this as marking the bottom, while “just the facts, ma’am” reporting simply emphasises the scale of the downturn. A couple of media outlets have asked my views on the next calendar year, so here they are–along with some historical perspective on the house price bubble.

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Related book: Debunking Economics - Revised and Expanded Edition: The Naked Emperor Dethroned?

Related previous post: The End of Australia’s $2 Trillion Housing Party - By Philip Soos

Related links:

Satyajit Das: Top Secret – The Chinese Envoy’s Briefing Paper On Australia’s Economy (Part I)

Satyajit Das: Top Secret – The Chinese Envoy’s Briefing Paper On The Australian Economic Outlook (Part II)