Some more links on overpriced banking and housing sectors...

...Two markets are at risk of significant overvaluation – Australia’s $4 trillion housing sector and the $405 billion big banks that furnish most of the funding we use to buy homes... (here).

...Bubble-like conditions in the nation’s most populous city have pushed average Sydney house prices to arecord A$718,122 ($666,858) compared to $806,000 in New York City and $536,237 in London, according to data compiled by Bloomberg News.

One in five Sydney suburbs now boast a median home price above A$1 million, up 31 percent from a year earlier, according to APM data.

While the United States and United Kingdom saw their housing markets sold off during the global financial crisis, Australian home prices have not fallen by more than 10 percent in any single year from more than 40 years... (here).