NSW Premier Mike Baird has urged policy makers to heed Reserve Bank of Australia governor Glenn Stevens, who has warned that parts of Sydney’s property market are “crazy”.
Mr Baird said the Reserve Bank spends a lot of time studying house prices, using a variety of metrics, which made the warning significant.
“We need to listen to the Reserve Bank Governor,” Mr Baird said, after his address at the Australian Financial Review‘s National Infrastructure Summit on Thursday. “The last thing that you want is a boom bust cycle.”
Bit late for that, old son. Get on with reforming the supply side.
