Kouk: Housing is going to crash

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Even the stopped clock is right twice per day. Via the Kouk:

So far in the 2020 Covid Depression, house prices have only edged lower.

Nation-wide prices are down a bit over 2 per cent over the past three months, led by Melbourne which is down around 3.6 per cent and Sydney, down about 2.2 per cent. This is not all that worrying, for now, given prices were rising very strongly through to the early months of 2020.

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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.