Cheap money has a high hidden price for society
Cheap money has a high hidden price for society The Reserve Bank hopes that low rates will see economic growth lift off. But it has already blasted the price of a home into a dangerous new orbit. Share The great Australian dream is in danger of falling victim to the ‘bystander effect’. House prices surged at their fastest monthly pace in 32 years in March, equal to annualised growth of 33 per cent. A generation denied entry to the housing bubble. Louise Kennerley Property prices are virtually certain to continue their upward ascent, cementing Australian houses as among the most expensi...
Source: afr.com