RBA: Housing bubble over

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From the Q&A yesterday with Phil Lowe:

“There has been a significant tightening in lending standards. In some respects, it seems some institutions have become excessively risk averse.

Many people in the community feel they have already borrowed too much and now they are in a period of consolidating the balance sheet rather than going out to take on more debt, even if there are low interest rates.

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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.