bull vs foreign bear

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    Australian home prices in 2011 have fallen the most in three years, pitting local banks which say the drop will be short lived against overseas investors betting it?s the start of an overdue rout.

    The nation?s four biggest lenders, which account for about 87 percent of outstanding mortgages, are forecasting prices will be underpinned by a housing shortage, population growth and an economy boasting near full-employment. Overseas investors say high debt, unaffordable homes and rising interest rates could cause home prices to tumble as much as 40 percent.


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