Melbourne’s ponzi economy is cruising for a bruising

Advertisement

By Leith van Onselen

Over the weekend, Fiona Nield from the Housing Industry Association (HIA) penned an article warning that the Victorian economy is dangerously exposed to a housing correction. From The Age:

The growth in construction activity over recent years has seen strong growth in the state’s construction workforce. More than one in 10 workers in Victoria are now directly engaged in construction. The jobs of many workers in other sectors… are dependent on the demand generated by construction.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.