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The RBA’s head of financial stability, Luci Ellis, delivered another thinly veiled defence of Australia’s exorbitant housing costs in a presentation last night to an urban planning seminar at Sydney University. From The Canberra Times:
…people’s ability to service existing mortgages had not changed much in the past 10 years. During that time, houses prices had fallen as well as risen, she said.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.