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‘Flashing red’: Ominous sign for Australia’s economy – NEWS.com.au

‘Flashing red’: Ominous sign for Australia’s economy

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Australias economy right now is a giant frothy foam party of rising house prices and elevated consumer spending. It looks amazing in the short term, but beyond that? There’s a warning sign that has just started flashing red.
Right now, people feel flush. Property prices are soaring at record rates, and many Aussies’ bank account balances are also at record levels thanks to a year of huge government payments.
The so-called “wealth effect” is driving consumer spending, and benefiting retail. The question…

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