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As house prices fall, Steve Keen’s phoenix rises

December 5, 2017 - 00:16 -- Admin

Via the AFR: “The catch-22 for housing bubbles is that the flow of new mortgages is the main determinant of house prices, and for them to continue rising, the rate of growth of new mortgages has to keep rising,” academic economist Steve Keen said. “We now seem to be approaching the limit that households can bear,

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