Joye: House prices going nuts again

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From Mr Joye:

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The correction called by so many in late 2015, which this column dismissed, has been superseded by an elongation of one of the biggest, and certainly most dangerous, house price cycles in history.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.