PHOTO: The Reserve Bank really doesn’t want us to be buying or building homes we can’t afford. Source: istock
BAD news for anyone still hoping the Reserve Bank will pull Australia’s house prices out of their slump. House prices have fallen for many months now, but the RBA is still worrying they are too high.
When the headlines are all about house price falls that are turning out to be bigger and longer-lasting than expected, Australia’s monetary chief is indicating that falling house prices are fine by him.
RBA governor Philip Lowe appeared at a conference in Portugal last week, alongside his counterparts from the US, Europe and Japan. In their company, he delivered some unscripted remarks that seemed unusually candid.
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