A friend kindly pointed out that I had said on 25 January 2012 that "If the RBA cuts again in February [they did not], and further thereafter [they started in May and June], as some analysts believe they will, expect to see the return of rapid house price appreciation." Here is what happened to national home values since the RBA started cutting rates in 2012...I am not sure if everyone agrees 6% pa house price growth, which is well above wages growth, is "rapid".
Articles from Christopher Joye
Yep, it was truly a love fest. The banks' gushing praise for APRA and John Laker was a little over the top---especially when they responded to questions about whether they had enough capital with the comment, "Ask John what he thinks." Laker was compelled to bat-back, "Oh no, I am now going to get queried about [industry] "capture"." Over to you, Adam Creighton...
In the Weekend AFR I have a page one, exclusive news story entitled, “RBA governor mulling retirement”. You can read it here. I also have my standard Saturday column, “Housing gain, retiree pain via cheap money”, covering the RBA’s December board meeting and what it means for housing, cash, floating-rate bonds, fixed-rate bonds, and equities.