Those countries with large current account deficits, such as the U.S. and Australia, haven't been penalized by seeing their currencies drop. In other words, financial markets currently are ignoring current account balances, but that's not to say that will continue. |
We are still seeing solid jobs growth and incomes are improving. That helps demand for housing, along with the Reserve Bank of Australia sitting on its hands for rates. |
We have solid employment growth, stable interest rates and rising immigration. They are all supporting building. |