Wednesday, August 23, 2006
Has the Australian house price crash started?
Rising interest rates across the world are starting to have a more painful impact on global housing markets. In the US yesterday, the country’s largest luxury house builder, Toll Brothers, reported that its third quarter profits fall 19% - the first decline in four years. The group also slashed forecasts for fourth-quarter earnings - unsurprising, as the number of unsold new family homes in the US is currently at an all-time hig