Here is a link to the Commonwealth Bank Presentation and comments from Business Insider. It has lots of interesting information about the Australian Real Estate Market.
http://www.businessinsider.com/australian-housing-bubble-commonwealth-bank-2010-9enjoy.
They missed the real argument against the figures used in the presentation. They used demographia data for everywhere EXCEPT Australia (even though it is available) and substituted this for the UBS data, which significantly underestimates the house value to income ratio. If they had used the correct data Australia sticks out as having by far the worst of all countries listed.
they skipped Australia!
So they're trying to dupe people into a false sense of security? Probably the best evidence that a market crash is not far away.
And whats the bet they won't be held accountable for doing so either..
What a joke.
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