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Apparently, the surge of foreign buyers into Australian real estate has helped pop Australia’s housing bubble and made housing more affordable. That’s the twisted logic of Bloomberg columnist, David Fickling, via The SMH:
There’s a familiar refrain when public discussion turns to Australia’s eye-wateringly expensive housing market: Foreigners are to blame…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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