RBA governor Philip Lowe says the inflation-adjusted property price falls in the 1980s were larger than the current falls
"In the 1980s, the rate of CPI inflation was higher than it is now so, in inflation-adjusted terms, the declines then were larger than the current one." "Rather, they largely lie in the inflexibility of the supply side of the housing market in response to large shifts in population growth." Analysts are divided about just how much further the royal commission-induced lending slowdown has to go.
"They find that it is highest for spending on motor vehicles and household furnishings and that for many other types of spending the effect is not significantly different from zero."
FFS! RBA expects us to believe this BS week in, week out. Try we dropped interest rates to absurdly low levels, inflated a bubble, crucified savers, ensured a whole gen of young Oz cannot own, and are now about to crucify a huge proportion of ordinary Australians via debt.
mikejanda RBAInfo The 'wealth effect' has made developers more wealthy. For home-owners and renters it is inflation which has driven up the cost of housing into unaffordable territory. Reduce immigration to release the built-up steam billshortenmp ScottMorrisonMP
SciNate Yeah Boy, that's the only job left for men, endangered species in predominantly All Women Broadcasting Corp, so just hang on with theirabc auspol
mikejanda RBAInfo 'inflexibility of the supply side of the housing market' = Capital cities are full. Marginal infrastructure build up is technically difficult (tunneling), slow and costly. When will the gscsydney finally scale back their mad target of an 8 million city?
... so it wasnt the unregulated vomit of 1.5$ trillion in mortgage debt out of the banks then ?
Population growth? Maybe. Slow building? Possibly. How about this? 👇
Population growth for growth sake proven excessive again. Many have warned against this including Dick Smith. Property developers persuade government to increase population to increase their profits at expense of our children. Witnessed this first hand.
Who counts the world population and further more who fact checks those figures. I have real concerns about the ludicrous figures they bomarding us with.
What a lot of horse shit! Buyer fear fuelled by rapacious Media which was allowed to go on unchecked for years and never curtailed by Reserve Bank resulted in ridiculous unsustainable growth with only one possible end result. Where do we find these people? ReserveBank
I think you’ll find the real estate industry and respective institution are the culprits here, no land management practice or enngagement, gouge for the fun of their fat wallets, irresponsible, unaccountable, thieves in the night at the expense of your local community
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