THE DISTILLERY: Housing tales

One commentator tackles the question of overvalued property, while others search for Rinehart's motives.

The brilliant thing about the Australian property market is the ease with which the same data can be used to demonstrate wildly different conclusions. One man’s simple increase in residential lending and home prices, courtesy of cheap overseas credit that can only be brought undone by a profound jump in unemployment, is another man’s reckless dismissal of history, where housing markets that reach seven-times earnings are doomed to fail. This morning, The Sydney Morning Herald’s Ian Verrender digs in to rubbish the property doomsayers, arguing that our houses are overvalued – certainly – but a crash is not on the cards. Elsewhere, The Age’s Adele Ferguson has a brilliant insight into Gina Rinehart’s attitude towards the media in the context of an M&A deal, while football rights and the Australian dollar are also up for discussion.


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