Australian houses 'overvalued' (The British English scare quotes are single quotes. How quaint.)
Moody's says that despite a 7% slide, Australian houses are still significantly overvalued. Any chart that goes back 30 years will tell you that. How about this one from the Economist:
Yes, that is a three fold increase from the very stable decade from 89 to 99.
Moody's says that despite a 7% slide, Australian houses are still significantly overvalued. Any chart that goes back 30 years will tell you that. How about this one from the Economist:
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The agency has warned it is considering cutting its credit rating on three of the leading Australian businesses that provide mortgage insurance.
. . .
Moody's is reviewing its "insurance financial strength ratings" on QBE Lenders' Mortgage Insurance, Westpac Lenders Mortgage Insurance and mortgage insurance run by Genworth Financial.
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