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January 3, 2018 | Housing Begins to Crash – Australia – New Zealand – London

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Property 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 economi9c downturn. Dah!

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January 3rd, 2018

Posted In: Armstrong Economics

One Comment

  • Neville Kettle says:

    I shake my head in disgust, daily, here in Oz. The mass Media are Venal Pillocks with very little to offer. Our Political class no different. My long standing take on the housing price boom here is simple. With the advent of Feminism decades ago and the introduction of the 2 income family came greater spending power. As we now know the decade long spell of Ultra low interest rates in conjunction with the death of the 1 income family has not bought increased security to the modern family. regards

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