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."

Sunday, September 25, 2011

Bubble trouble: Commercial property (chart)

This is a fascinating chart from the RBA last week, which compares Australian commercial and residential real estate price growth to the US, UK, Ireland, Spain and France since December 2002. Note that pre-GFC Aussie house prices had appreciated the least of any of the surveyed countries. In contrast, Aussie commercial property looks decidedly bubbly...