Housing Bubble Pops in Sydney & Melbourne, Australia

Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter And with impeccable timing, an immense flood of new construction. In Sydney, breeding ground for one of the world’s biggest housing bubbles, prices of single-family houses dropped 7.3% in August, compared to a year earlier. Prices …

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Australia bans Huawei from 5G network

Chinese-owned telecommunications giant Huawei has been blocked from rolling out Australia’s 5G network due to security concerns. The government said Thursday that the involvement of a company “likely to be subject to extrajudicial directions from a foreign government” presented too …

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