Worsening global housing affordability crisis presents major risks to Australians
Not one of 95 international property markets analysed falls into the category of affordable, but Australia is among the very worst and property bubble risks are now real.
Most economists agree that the majority of the world's property markets are not about to see their bubbles burst, but with not a single one of 95 property markets deemed affordable risks are heightened. (Image source: Shutterstock.com)
Australia’s housing market is at a crossroads, as new affordability figures signal a nationwide housing crisis exacerbated by international factors.
The Demographia International Housing Affordability Report, released by California’s Chapman University in May, paints a stark picture of the affordability crisis sweeping the globe.
The report analysed 95 markets across eight countries, delivering sobering results for Australians.
Sydney ranked 9…
