Via the AFR, the bears are on the run today, with Shane Oliver the latest:
“An early rate cut does, I think, raise the possibility that the bottom of the cycle will come earlier,” he said on Sunday.
“Historically, if you look at the last two cycles, the 2008 GFC-related slump and subsequent recovery and the 2011-12 slump in house prices and the subsequent recovery, house prices nationwide – and also in Sydney and Melbourne – started to rise four or five months after the first interest rate cut.”
