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House bubble bursts, but whose fault is it?
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Posted on
May 13 2008 5:06 AM
by
adeal
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HOUSE prices in some parts of Sydney have almost halved as battling borrowers struggle to keep up with increasing interest rates. Rising interest rates, both from the Reserve Bank and those imposed independently by the banks, have been blamed for tipping the market over the edge and "pricking the house-price bubble". Property auction clearances remained flat over the weekend too, with rates slipping below 50 per cent in Sydney and Brisbane.
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