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For decades, as values continued to march ever higher, Australia’s housing market was in a state of FOMO (i.e., the “fear of missing out”).
Chart from Alex Joiner (IFM Investors)
Sure, there were dips along the way. However, Australians never wavered in their belief that home prices always rise over the medium to long term.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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