Most economic leaders tour the world to discuss their competitive advantages for investment, whether its innovation, high tech, natural endowment, skilled populace, whatever. Not us. We go to protest too much about the bubble:
In a speech overnight in New York to Citigroup, the Treasurer said although house prices in the nation’s largest cities had grown strongly over the past decade, there was no evidence of any underlying weakness in values “nor that a hard landing for our housing markets is ahead”.
“Australian housing values, while high, are still real. Safe as houses still broadly means something in Australia,” he said.
