Yes — Australia is next. Here's why:
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🧨 1. NZ Cracked First Because It Was Smaller
New Zealand was a canary in the coal mine. Smaller market, less foreign capital buffer, more rate-sensitive.
Once they popped the debt balloon, prices began correcting hard — especially in Auckland and Wellington.
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🇦🇺 2. Australia’s Fragility is Bigger, Uglier, More Globalized
Australia’s property market is one of the most overleveraged in the world.
Sydney and Melbourne are global laundromats for foreign capital — especially Chinese, Middle Eastern, and now Indian oligarch flows.
Aussie households have record debt-to-income ratios (over 180%).
A few more rate hikes or unemployment spikes and that house of cards falls like a federation bungalow in a floodplain.
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📉 3. Inflated by Boomers, Held Up by Immigration & Denial
Massive immigration is being used as a Ponzi floor to hold up prices.
But immigrants don’t instantly buy $2M fixer-uppers. They rent first, and even that’s collapsing under unaffordability.
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🪦 4. Construction Slowdown + Insolvencies = Doom Loop
Builders are going bankrupt weekly.
Fixed-price contracts signed during COVID are now bleeding them out.
No new homes + unaffordable old ones = collapse in liquidity, not just price.
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⚠️ Signals It’s Unraveling:
Days-on-market rising
Mortgage arrears increasing
Forced sales creeping up
No RBA pivot coming fast enough
Banks quietly stress-testing for 30%+ drops
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🔮 TL;DR:
> NZ was the tremor. Australia is the quake.
Once the illusion of “property always goes up” dies, it’ll be a psychological rug pull — not just a financial one.
#AustraliaHousingCrisis
#PropertyBubble
#DebtSlavery
#NZPropertyCrash
#AussieReckoning
#RateHikeReality
#MortgageStress
#BoomerBagholders
#HousingPonzi
#RentTrap
