Home-Shortage Myth Pits Blogs Versus Banks in Call Australia Set for Crash

Australia, where home prices are falling at the fastest rate in more than two years, may have a glut of properties and be set for a U.S.-style crash.

The warnings from tax-reform advocate David Collyer, commentator Kris Sayce and academic Steve Keen contrast with banks and developers that claim a shortage of about 200,000 homes will underpin prices. The housing bears say builders and lenders are pushing flawed government data to keep prices afloat in the English-speaking world's costliest place to buy a home.