Australia's persistent prophets of doom

Despite rising house prices in some capital cities and positive economic data, many of the usual suspects in commercial and media circles persist in spruiking doom and gloom.

As I expected, the RBA’s decision to – rightly or wrongly – slash interest rates to historically very low levels (the discounted rate at which most people borrow is around 6 per cent) has had a near-immediate impact on Australian house prices.


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