A sudden conversion of property bubble doubts

Christopher Joye and others who argued stridently against a housing bubble are now warning on overheated prices. Have debt conditions changed, or commentators' attitudes to them?

Back in the Olde Days, before the global financial crisis, when I was one of a handful raising the alarm, some of the most strident opposition to my opinion about what this might mean for housing in Australia came from Christopher Joye (who was then a Director at Rismark). We went head to head on many occasions, with me arguing that our prices were a debt-fuelled bubble, and Joye arguing that rising house prices simply reflected rising household incomes.

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