House prices are going nuts again. According to RP Data, home values across the five capital cities have expanded 9.8 per cent over the last year with staggering 4 per cent capital gains in the past three months alone.
The correction called by so many in late 2015, which this column dismissed, has been superseded by an elongation of one of the biggest, and certainly most dangerous, house price cycles in history.
From Mr Joye: