The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Saturday, September 18, 2010

We all think our housing markets are unique...

Sound familiar? From the FT today:

"The British will scrounge, burn and pillage to pay for their home. This quirk of national psychology, combined with an unemployment rate less bad than the US and Europe, has kept Britain’s housing market in a state of suspended animation. Indeed, the £222,000 average UK house price is barely £10,000 short of the 2008 peak, according to LSL/Acadametrics. It has rebounded 11 per cent since April 2009, making it that rare thing, a bubble that did not fully correct before inflating once more."