The Treasurer Joe Hockey was forced to defend the Australian housing market during a visit to the US in October, in an attempt to rectify foreign investor perceptions that a property bubble looms... (according to Mortgage Professional Australia pp 6 December 2013)
Hockey was asked in an interview with US-based reporter Amanda Drury, if he was worried about a bubble bursting and causing a housing crash like the one the US experienced during the GFC.
"Not at all. A lot of commentators, particularly over here, don't understand the Australian housing market," he replied.
"Australia is a long way from a housing bubble. Rising house prices in Australia help to make some of the more marginal new housing developments affordable, realistic and deliverable".
Hockey was asked in an interview with US-based reporter Amanda Drury, if he was worried about a bubble bursting and causing a housing crash like the one the US experienced during the GFC.
"Not at all. A lot of commentators, particularly over here, don't understand the Australian housing market," he replied.
"Australia is a long way from a housing bubble. Rising house prices in Australia help to make some of the more marginal new housing developments affordable, realistic and deliverable".
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