Thursday, 25 February, 2016
Sydney property: Don’t believe the Aussie big short
Steve Keen said Aussie house prices would fall 40 per cent during the global financial crisis. They corrected 6 per cent.
Short the big short. First we had Dr Steve Keen telling us Aussie house prices would fall 40 per cent during the global financial crisis (they corrected 6 per cent and to hike from Canberra to Mt Kosciuszko for his forecasting sins).
Australian housing valuations.
Jeremy Grantham, founder of the $100 billion fund manager, GMO, told us in late 2010 that Aussie housing was a "time bomb" that was overvalued by 42 per cent.
Channeling Ryan Gosling in The Big Short, Tepper says "the Australian property market is on the verge of blowing up on a spectacular scale, similar to Ireland and Spain after the crisis".
Read more: http://www.afr.com/real-estate/residential/sydney-property-dont-believe-the-aussie-big-short-20160224-gn32hj?login_token=nGinxJwfgZudyDdjU2MlwiSrIphy5qkjiLN0uKDQxL95Xw_3rjIWZUsJ_1zTxn-Ji95rxAXm0l0xY3MdvDtkkA&expiry=1456393039&single_use_token=yDay1DXUE2Os91p5uvWftDTkirnfxtHL3OSjc-pry1xm04-a453rkjS6Oi4TUU4b7UAy2yhiCHbajnR4PAnx7Q#ixzz41Agv68nn
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