Ban SMSFs from borrowing

ASIC chairman Greg Medcraft’s suggestion that Sydney and Melbourne house prices are in a bubble has been predictably shot down by the ceos of developers Mirvac (MGR) and Stockland (ASX: SGP). Stockland ceo Mark Steinert believes prices are responding to undersupply in these areas, although his view might be influenced by his company’s large exposure to the residential sector.Our views on house prices are well known and so readers don’t need to guess on which side of the fence we sit.Medcraft is also concerned that self-managed super funds (SMSFs) that have invested in property – particularly those which have borrowed to do...

ASIC chairman Greg Medcraft’s suggestion that Sydney and Melbourne house prices are in a bubble has been predictably shot down by the ceos of developers Mirvac (MGR) and Stockland (ASX: SGP). Stockland ceo Mark Steinert believes prices are responding to undersupply in these areas, although his view might be influenced by his company’s large exposure to the residential sector.

Our views on house prices are well known and so readers don’t need to guess on which side of the fence we sit.

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