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With concerns over Australia’s housing bubble now spreading like wildfire, John McGrathmaggeddon has penned a desperate piece telling punters not to “panic” because “the property bubble isn’t about to burst”. From Switzer:
Have you noticed that the speculation has started? The property market is “grinding to a halt”. The boom is over. The banks have lent too much. The bubble is going to burst…
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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.