Just about 70% of Australian homes are in a state of negative equity

|Position|Post|<br>|:-|:-|<br>|+1|Isn’t Australia just like a giant island with 2 cities of over 1 million? Like what? How can they not have a large amount of homes in negative equity when you have houses worth 4 million and people making 40,000 (that’s like the waiter or the gas station attendant). It could not have been sustained. The rents are too damn high.|<br>|+1|Literally impossible it the houses were worth 4 million and people making 40,000 it was a bubble and it would have popped. The housing market in Australia is clearly a bubble and it was always going to burst.stubborn thing is some people would still think it isn't a bubble or it's not going to burst.