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Ski Condos in Colorado Portend Aussie’s Worst Ahead

Sydney native Greg Gibbs bought his first Breckenridge, Colorado, ski condo in 2011 and a second this January, predicting the end of a record period of strength for Australia’s dollar. The Royal Bank of Scotland Group Plc strategist could hardly have timed it better.

Gibbs, who sold his house in Sydney and moved to Singapore last year, bought the first property just two months before the Australian dollar climbed to a record $1.1081 in July 2011. This year, the Aussie has slumped 12 percent to 91.11 U.S. cents as the South Pacific nation’s economy struggles while America’s real estate market recovers.