Rob Burgess at Business Spectator was a long time property bubble bear, but no longer:
The long-entertained view that house prices would fall back so that they were more in line with the price-to-income ratios seen in the 1990s begins to look like a false hope — and I write that as someone who took part in Steve Keen’s 280km ‘Debt March’ in 2010 to highlight the ‘problem’ of Australia’s ballooning mortgage debt stock.
A sharp price correction could still happen, but it looks increasingly likely that what we have observed is a historic ‘maturing’ of the finance industry that funds housing.
