House prices in Arizona are spiking and that could be bad news for Australia | ABC News

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The coronavirus pandemic has stoked the global housing market to fresh highs as a perfect storm of factors combine to surge prices at a historic pace.
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In the US, markets previously considered the most affordable are now out of reach for average Americans.
Efforts to get prices under control could derail markets around the world, including Australia.
North America correspondent Kathryn Diss travelled to Phoenix, Arizona, once considered one of America’s most affordable cities.

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