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."

Thursday, August 2, 2012

Major banks control 86% of home loan market (table/chart)

Interesting from CBA's credit analysts...As I've said too many times to remember, housing credit growth of circa 5-6% pa is not shockingly low, but rather surprisingly normal. Any other characterisation is misleading. The expansion of credit for residential loan purposes is tracking disposable household incomes very closely, which is a good thing...