The IMF has published a new report that puts global housing prices into perspective

The IMF has published a new report that puts global housing prices into perspective. Global housing prices rose in the second quarter of 2013, the sixth straight quarter of growth. House prices rose in 32 of the 51 advanced and emerging market economies in the IMF's Global House Price Index, compared with increases in 9 countries in the second quarter of 2009, when the housing crisis was in full swing. The report looks at the ratio of house prices to rents and shows that many countries remain above historical averages. Australia's housing market sits in 4th position as the market most overvalued compared to historical averages. (VIEW LINK)