Live from Australia

As you know, I’m on the road in Australia at the moment, handling a few speaking engagements for my readers in fans Down Under. I always love coming here and recently have tried to do it about twice each year, and it never fails to impress or reinvigorate me. So thanks, Australia, for being lovely hosts.

Of course, I still needed to make time to check in with you and talk a bit about the markets. Australia’s in bubble city too right now, and we’re seeing the indications firsthand. It’s the second most overvalued city in the world in terms of real estate, and that’s alarming. In general, real estate is going to need to get down to reality – and soon.

By the way, I’ll be skipping the rant next week, traveling back to the U.S. and then celebrating Thanksgiving. Instead, I’ve got my editors cutting some interesting interviews from this year’s Irrational Economic Summit, so stay tuned for that.