The good news is that house prices will land sooner than expected. The bad news is that the landing will be harder.
This is an outworking of the Reserve Bank’s determination not to draw breath on relentless and aggressive interest rates attacks.AdvertisementHaving begun tightening monetary policy too late, the RBA’s catch-up is occurring at warp speed and borrowers can do little but buckle up and brace for impact.
In previous rising interest rate cycles or when introducing changes to macro prudential measures, the RBA was alive to the desire to manage the impact on house prices. But this time around, it is more prepared to risk housing price deflation.
EKnightOfficial Alan Kohler predicts recession?
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