This same thing is occurring world wide. Property prices falling. Wages have been intentionally suppressed around the world in respect to cost of living, hours have been reduced, full time employment reduced in favor of part time and casual work.
It is a major symptom of weak demand to buy new homes which is in turn a symptom of the lack of equity families have. Things are getting worse for a lot of families with depressed wages growth. Corporations tout their profits, the Australian government touts a return to surplus but do they proclaim that wages will rise?? They oppose wages rise at every opportunity. They are now promising personal tax cuts. They can promise all the like but their credibility has gone.
U.S. Homebuilder Sentiment Tumbles to Weakest in Three Years
By Sho ChandraDecember 18, 2018, 1:00 AM GMT
Updated on December 18, 2018, 2:48 AM GMT+10
Sentiment among U.S. homebuilders fell in December to the lowest level since 2015, missing all forecasts and signaling that the industry’s struggles are intensifying amid elevated prices and higher borrowing costs.
