Signs of desperation?

An expert interviewed on the 60 Minutes story tonight about the property bubble in Australia predicted a bursting of the mortgage bubble within this year. I think it is already happening in Perth. I’ve already described the signs and evidence that I’ve been reading and noticing. Today (a Sunday) I drove through a long and winding road through a number of suburbs of Perth, around noon, and I couldn’t help noticing the collections of “Home Open” signs posted on verges of roads and roundabouts at every intersection and roundabout that leads to houses.

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