From Mr Joye:
Exploding house prices are turning into a real headache for the Reserve Bank of Australia, which for the last two years has been happy to blow the bubble and bugger the long-term consequences.
The latest data are breathtaking and do not require any hyperbole to highlight. They look bad in isolation and compared to the rest of the world.
Well, yes, but it’s been that way for ten years so it’s a bit late to worry now.