Morgan Stanley: Expect L-shaped recovery for property

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Another one joins the MB led consensus, never a comfy position to be for us, via Morgan Stanley:

If clearance rates can sustain in a lifting auction volume environment then we may see a stronger housing recovery – although this looks unlikely to us at this stage”.

We think the likelihood of a price rebound is low – given the still soft economic environment and limited appetite from regulators for a credit rebound.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.