Crazy Sydney

Reserve Bank Governor, Glenn Stevens, referred recently to the prices being paid for homes in Sydney as being crazy. A little earlier Treasury Secretary, John Fraser, referred to a “bubble” in Sydney house prices. Both made it plain that the Sydney housing market was...

Coyote Growth

Much of the copious amount of Australian economic data released over the past week or so is reminiscent of the old Road Runner cartoons, more particularly the coyote character. The poor old coyote made a habit of running off cliffs, looking bemused, and then falling...