Sydney home bubble deflates as loans revisit 2008 losing streak
Tighter credit is a key factor, and there are also fewer interest-only loans and fewer Chinese buyers these days
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Sydney
AUSTRALIA'S east-coast property bubble is showing signs of deflating at a faster clip as home-lending data recorded the longest losing streak in almost a decade.
Housing finance fell 1.4 per cent in April, the fifth straight monthly drop and the longest stretch of declines since September 2008, when Lehman Brothers Inc collapsed and a month before the Reserve Bank of Australia slashed its key interest rate by a percentage point.
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