From Mr Joye today:
After forecasting house price rises every year since 2013, I’m happy to double-down on our April 2017 call that the boom is over and project that prices will fall in 2018.
…If our contrarian case for Australia’s jobless rate falling below 5 per cent in 2018 comes to pass (the RBA’s brighter boffins reckon it will be 5.5 per cent in December), the central bank will have no choice but to raise rates once or twice assuming it acts rationally. This will reinforce the magnitude of the expected correction.
