Houses: Over-Priced, Under Supplied, No Bust

  Australian housing remains very expensive, but the AMP's chief economist, Dr Shane Oliver, says that's being supported by an undersupply (as we saw with yesterday's fall in building approvals). Expensive housing & #38; high household debt levels are a risk but in the absence of higher unemployment, much higher interest rates or a big supply increase, a US style collapse in Australian house prices is unlikely. & #160; & #160;  

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