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To: SeekAndFind
HUGE and I do mean HUGE property bubble in Australia about to go pop...
4 posted on 05/02/2011 7:34:40 AM PDT by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: 2banana

I was in Australia August last year.

At that time, 0.95 USD buys one Aussie.

Today, one Aussie buys $1.07 USD.

Historically, 0.78 to 0.80 USD bought one Aussie.

Our dollar has depreciated so much that we’re slouching towards 3rd world status.


5 posted on 05/02/2011 7:39:57 AM PDT by SeekAndFind (u)
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To: 2banana
I was in Australia last week and I have been watching the housing properties for nearly a decade with a lot of disbelief as to the extraordinarily high price of property. I have never understood how it has been sustained for as long as it has been...particularly if one follows the old rule of four times the price of one’s salary as a rule of thumb. Prices for virtually every consumer good are at least twice as much if not ten times as much in Australia as they are in the US.
9 posted on 05/02/2011 8:13:09 AM PDT by madinmadtown (Marx, the patron saint of blame, envy and destruction.)
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