Another big bank CEO in need of a property economics lesson

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From the AFR:

“You have seen us address the regulatory brakes being applied to investor lending,” he said on a call with analysts.

“Australia is, however, made up of multiple housing markets. Not all of these are facing the same pressure. However, price rises in some areas of Sydney and of Melbourne are being driven by a severe mismatch in supply and demand, and we are managing these hotspots very cautiously.”

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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.