CHART OF THE DAY: There's Still This Huge Housing Bubble Yet To Pop

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Eyes are currently on China as the next housing bubble to burst, but there may be another lurking to the south.

Broyhill Asset Management (via Market Folly) point out that Australia appears to be showing the same signs of bubble that the U.S. did prior to its collapse, and that its growth has continued long after the U.S. correction.

Australia has been able to keep up the bubble charade because of an easy credit period. Sounds somewhat familiar, no?

From Steven Keen’s Debtwatch featured by Broyhill Asset Management (via Market Folly):

chart of the day, australia vs us, housing prices, august 2010

Check out the full details of the housing, debt, and banking crisis coming in Australia >

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