Born and bread in W.A. Ive seen a few housing slumps there but this one is going on and on and starte about a decade ago. Housing starts are down 9% from the prev year. Construction coy's are going bust. The latest is BCG although that has other history as well. Australia often lags the rest of the world and where I live lags Australia but not by much this time. I see this one as a slow motion train wreck not a sharp crash and imo is worse because its easy for people to think its just a slight fall. I know people that borrowed enough to buy 5 properties in an area that has one industry. Needless to say its not doing well and I do t think they are alone.
