Shame Oliver: Relax, household debt’s not that high

Monday 22 February 2016

It has been amazing watching the transformation of Shane Oliver, chief economist of AMP, over the past eight years.

In 2008, Oliver released well-argued research arguing that Australian housing was a “bubble”, and that the combination of excessive housing debt and inflated housing values were Australia’s “Achilles heel” (see below charts).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.