by tonytran2015 (Melbourne, Australia).
Inevitable bursting of Real Estate Bubbles in Australian inner cities.
As the Central Banks of major countries send interest rates slightly positive, property owners who have not been verse in calculating return and risks may have to carry out fire sales as they cannot afford the interest payment on the mortgage taken to buy those properties.
1. Owners have bought at the top of the market and there are few new buyers.
There are reasons to think that Australian Real Estates are currently overpriced:
Some unseasoned owners had been tricked by Real Estate agents that Chinese immigrants would keep coming in, bringing with them gold and fortunes from China to buy up local Australian over-priced properties.
The Chinese government is not stupid to let corrupt officials move their ill-gotten wealth oversea through bank transfer.
Any undocumented money transferred…
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