Josh Sigurdson talks with author and economic analyst John Sneisen about the alarming rate at which Australian home prices are rising as the real estate bubble proves to be more volatile than ever.
Home prices in Australia have risen the most in 7 years as massive market manipulation takes place forcing even the middle class to rent rather than buy homes.
The average home values in capital cities surged 12.9% in March alone. This is a startling development.
The annual home value growth in Sydney, Australia was 19%.
John Sneisen goes into the interest rates, inflation, market manipulation and the issue of corruption regarding Credit Default Swaps and Collateralized Debt Obligations as banks offer packages with a couple good deals mixed with a huge amount of terrible deals.
As John points out, your house is not an asset. Yes, you can invest in realty and can be quite successful with it, but your home as it is, is not an asset and people run into a lot of trouble believing such misinformation.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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