Commonwealth countries are experiencing a worrisome real estate bubble. Australia, Canada, the UK, and New Zealand have all seen property prices rise an average of 71 per cent since 2003, according to housing blogger Stephen Punwasi.

Since the economic meltdown of 2008, governments in these four countries have embraced low interest rates, which has let consumers carry more debt. That’s led to increasing real estate prices despite stagnating household incomes, soaring household debt, and tepid economic output. Here’s what each country looks like individually: Canada Housing…