Monday, January 9, 2017
Perhaps it is because a few staff members at towers of ilium have an obsession with Mad Max, but whatever the case, we now turn our sights on Australia. We are reassured by a familiar scene--suburbs (or sprawl, as some are inclined to call it) and trucks. Deeper research indicates that Australia resembles the American Southwest, or inland California. The great architectural innovation of the ranch house with faux Tuscan roofs works well here.
There is a real estate bubble in the country. It may persist for several more years and deflate slowly, but there is poor history of good things happening when bubbles pop. Australia might be in for some hard times--ask the Toecutter.