House Price Bubble Warnings....

[connaust]

Melbourne Age newspaper editorial titled:

A housing boom doesn't mean houses for all

 

Here and in Australia's other big cities, housing prices are on the rise again. And, as always, the soaring prices carry both good and bad news.

 

As Age economics editor Tim Colebatch argued on our opinion page earlier this week, property prices cannot balloon indefinitely. ''Melbourne house prices have trebled since 1997,'' he wrote, ''not because our incomes trebled but because we paid those prices by a massive increase in debt.''