It's almost like the laws of supply and demand 'aren't working in the housing market'The Australian’s Adam Creighton says it's almost like the laws of supply and demand "aren't really working" at the moment in the housing market in Australia.
"We are seeing in the housing market generally, some extraordinary developments at the moment," Mr Creighton told Sky News host Peta Credlin. "There is an extraordinary pile into the housing market at the moment". "And at the same time of course, that we have population growth at the lowest level over a hundred years". Mr Creighton's comments come after Westpac predicted a 20 per cent surge in house prices between now and 2023.
Adam_Creighton Ahhh financialisation of shelter. Its just a risk asset on the verge of inflationary powers. If only you worked in finance..
Adam_Creighton And they can't blame the foreigners any more? Looks like they will have to find excuses somewhere else.
Adam_Creighton It's almost as if land is fixed in supply or something, eh?
Adam_Creighton yeah no shit