Real Estate in Australia: Sacred Cow Enshrined Shonky Business Practices
The real estate business in Australia is a sacred cow. Home ownership is the great Australian dream. The residential property market is the most inflated sector in the nation at around 380% over the last few decades. The RBA does not include real estate prices in its inflation figures. The ABC’s Four Corners program exposed a few of the common practices within the industry, which are contravening consumer protection laws. Real estate in Australia: Sacred Cow enshrined shonky business practices. Collusion between agents representing buyers and sellers is one glaring example of this.
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