From our Chris today: To APRA’s immense credit, it has managed to pull off a minor miracle: bursting the bubble during the boom. Debelle has previously noted that there was no evidence of a wealth effect, or positive feedback loop into consumption, during the upswing when Melbourne and Sydney house prices surged 50 per cent
The post Joye: Housing bust a miracle appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]