Australian PM says housing prices not safe from financial crisis

CANBERRA, Oct. 12 (Xinhua) -- Australian Prime Minister Kevin Rudd said on Sunday housing prices could be the latest sector hit by the global financial crisis,.

In an interview on the Nine Network's 60 Minutes program Sunday night, Rudd said the economic downturn could hit all parts of the economy, and that included the housing market.

When asked if he expected house prices to fall as a result of the slump, Rudd said: "Well, I don't have detailed information on various parts of the housing market, it's different across various parts of the country. But, you know, if the economy is being buffeted abroad, then it follows, from forces abroad, it means that it's going to impact all parts of the Australian economy as well. That's just the truth."