At ValueWalk, we’ve kept a close eye on the Australian housing market for some time. Along with Canada, the Australian housing market is one of the world’s most inflated, with prices being driven by rampant speculation and funded by high levels of debt.
Indeed, as we reported at the end of February, Australia’s household debt-to-income level now reached an all-time high, hitting 200% or $2.47 trillion, which works out at around nearly $100,000 for every man, woman, and child. The average Australian household now owes twice the amount they bring in annually from wages welfare and other sources of income.
