In 2015, the RBA senior research manager, Dr Peter Tulip, released delusional research claiming that Australian housing values were 30% undervalued and that owning a home is “now more attractive, relative to renting than it has been at any time in the past 30 years”.
Now Dr Tulip is back, this time co-authoring a research paper, entitled A Model of the Australian Housing Market, which pins much of the blame for the most recent ramp-up in Australian dwelling values on the reduction in interest rates supplemented by mass immigration:
