Australia's Housing Crisis Worsens on Energy Costs

Australia's housing crisis is facing a new pressure point. The US led war in Iran is pushing up global energy prices, driving construction costs higher and making it harder to build new homes at the same time. Causality data shows that home values in Sydney and Melbourne are now falling as higher fuel prices and rising interest rates rate weigh on buyers.Let's get more now with Nerida O'Connor's, who's the chief economist at real estate group Ray White. He's also the chair of the Australian Construction For ...