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Housing Begins to Crash – Australia – New Zealand – London

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Posted by Martin Armstrong - Armstrong Economics Armstrong - Armstrong Economics

on Thursday, 04 January 2018 06:52

HOUSE-Money-768x768Property values are starting to crash hard in Sydney Australia, New Zealand, and London. Politicians are simply idiots. They all targeted foreigners buying property as the leading cause for the rise in housing prices. What they failed to grasp is that people spend more money when they THINK they have equity in their home. Whenever housing starts to decline, so does consumer spending and guess what – you get the economic downturn. Dah!

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