From the Q and A yesterday in following the speech by Assistant Governor Michele Bullock:
“We are watching it because investors can be the first ones to get out if things turn down,” she said, warning that a rush for the doors could make a slump “much bigger than it would otherwise be”.
Invited to repeat an assurance by Treasurer Scott Morrison on Monday that rapidly climbing house prices in Sydney and Melbourne were “not the function of any sort of investor credit bubble or anything like this”, Ms Bullock declined, saying: “I would not like to speculate on what is a bubble and what is not, personally”.
