Amid the media glee surrounding Australia’s rebounding property market, spare a thought for Townsville, whose market crashed in 2008 and has yet to recover. From The ABC:
The saying “as safe as houses” is a lie, according to Townsville resident Heather White, who is about to lose almost $100,000 on the resale of her home in the north Queensland city.
When Ms White bought her family home more than a decade ago, she thought the resale profit would fund her retirement.
