Emotion beats facts in ‘biggest housing bubble ever’

There was a nice contrast in the even more expensive Financial Review on Wednesday. On the front page was property investor Paul Cleary, looking to offload his terrace in Rozelle, Sydney.Had the RBA reduced rates on Tuesday as was widely anticipated, Cleary had plans to increase his reserve price by $50,000. But the fact that rates stayed put wasn’t a disaster. Cleary was ‘still looking at great capital growth’.On page 7, Christopher Joye’s opinion piece had, like, numbers and stuff. Data I believe they call it. Joye compared the last property boom over a decade ago with the current situation,...

There was a nice contrast in the even more expensive Financial Review on Wednesday. On the front page was property investor Paul Cleary, looking to offload his terrace in Rozelle, Sydney.

Had the RBA reduced rates on Tuesday as was widely anticipated, Cleary had plans to increase his reserve price by $50,000. But the fact that rates stayed put wasn’t a disaster. Cleary was ‘still looking at great capital growth’.

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