Economics
Australian Property Is Starting to Boom Again. That's a Worry
- Sydney home prices have surged as central bank slashes rates
- Sudden rebound could re-inflate bubble, entrench inequality
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Australia is seemingly rushing headlong into another debt-fueled property binge.
Three interest rate cuts that have taken mortgage rates to a record low and a loosening of lending curbs have sent buyers flocking back to the housing market. At current boom-time rates of growth, Sydney home prices could recoup two years of losses and be back at record highs as soon as May.