The World's Largest Property Bubble
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The World’s Largest Property Bubble

Where does Australia’s housing market rank on the inflated list.

By Terry Christodoulou
Tue, Jun 22, 2021 3:17pmGrey Clock < 1 min

Australia’s housing market seems to be setting a new record every week, enjoying a prosperous surge in the last 12 months.

While cries of a housing bubble and a housing affordability crisis grow louder, a Bloomberg Economics Report highlights other international markets faring worse.

According to the report, the award for biggest housing bubble lands with pacific neighbours, New Zealand.

Other countries to top the list included Canada, Sweden Norway, United Kingdom and Denmark, with Australia down in 15th.

The study looked at each country’s home price to rent ratio and price to income ratio in an effort to decipher if recent price gains were sustainable, or if markets would be at risk of a correction.

It’s not only Australia that has seen prices rise rapidly, with global house prices boosted by record-low interest rates and a surge in stimulus from central banks inflating prices.

Bloomberg Economist Niraj Shah feels that there is a range of factors causing this global rise.

“A cocktail of ingredients is sending house prices to unprecedented levels worldwide,” Mr Shah said.

The Bloomberg report also points out that in many countries price ratios are now higher than 2007-2008s Global Financial Crisis, indicating that current prices might not be sustainable in the long-term.

See the full list below:



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Jennifer Lopez and Ben Affleck have officially put their massive Los Angeles mansion on the market for $68 million.

The lavish Beverly Hills property hit listing sites on Thursday, months after rumours began that the couple, who are reportedly estranged , were shopping the home around only a year after buying it for nearly $61 million.

The roughly 5-acre property—which is in a gated community and spans a massive 38,000 square feet—includes an indoor sports court with an adjacent gym and games room, according to the listing with Santiago Arana of the Agency. The firm declined to comment.

Lopez and Affleck paid $60.8 million for the compound in 2023.
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Built in 2000, the house has 12 bedrooms and a whopping 24 bathrooms. The resort-sized property has the amenities to match, including a V-shaped pool with views over the surrounding hills, a detached two-bedroom guardhouse and a 5,000-square-foot guest penthouse, according to the listing.

Listing images of the house show that Lopez and Affleck have spent the past year warming up what were fairly white-washed interiors when they purchased the home. There’s now a rich, green-painted dining room, hardwood floors and carpeted over cold, polished-stone flooring.

The couple, who got married in 2022 after reuniting some 20 years after they called off their engagement in the early 2000s, purchased the megamansion following a house hunt that went on for several months, The Wall Street Journal reported at the time.

Representatives for Lopez, 54, and Affleck, 51, did not immediately respond to requests for comment.

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