The drumbeat of crappy housing data is getting louder and more frequent. From the ABS February Housing Finance we get the following:
Here are a string of graphs to give you a feel for how bad the trends are:
I call them bad, yuk, crap and foul. And here’s one last one to drive home the point (if you’ll pardon the pun):
House price falls are set to accelerate on this data.
Finally, to prove I am not making this up, refer below to the CBA report on the data which doesn’t even bother reaching for the lipstick for this pig:
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.
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