Its the Economy, Stupid: Why Australia won't have a Housing Crash

Is Australia headed for a wealth wipeout?
The follow-up article from Business Insider. Even if it is not going to be a wipe-out, it sounds like a long time for the downturn in coming.

 

From Business Insider part of 10 things you need to know this morning in Australia:

Back in 2016, economist and founder of advisory firm Variant Perception Jonathan Tepper featured in an episode of Channel Nine’s 60 Minutes, predicting a housing crash based on easy credit and extremely high property prices in parts of Sydney. He was early with that dramatic call, but the events of this year have shown the basic thesis was right. Tepper has a new book coming out: The Myth of Capitalism, which has glowing endorsements from the likes of Ken Rogoff, Scott Galloway, and Kyle Bass. He joined us on this week’s episode of the Devils and Details podcast to talk through the book’s argument that capitalism is creating monopolies and oligopolies (obvious examples being airlines, Google, Facebook, and Amazon) that are suppressing wage growth, exacerbating inequality, and even driving populism. We think it’s a fascinating chat of anyone with an interest in current trends in business, policy, economics and society. Of course we start by asking if he still thinks the Australian housing market is on the brink of disaster. Answer: “Yes I do.”

And here is the podcast that I'll definitely listen to The crushing impact of oligopolies on wealth inequality, wages, and company survival | Devils and Details by Business Insider Australia on acast