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Shame Oliver joins “don’t buy now” movement

Thursday, 13 April 2017

Suddenly it’s a movement, via the AFR:

AMP Capital chief economist Shane Oliver has backed fellow economist Chris Richardson advice that young Australians consider renting rather buying a home in the current cycle.

Speaking to the Australian Financial Review, Mr Oliver said Mr Richardson’s advice was “totally right” given that rental yields were at record lows with “rents not kept up with ridiculous home price gains”.

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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.