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House prices can’t fall a ‘dangerous idea’: RBA

Posted on 25 July 2012

The Reserve Bank says housing prices may fall further and believes it is risky to assume they won’t. “It is a very dangerous idea to think that dwelling prices cannot fall,” RBA governor Glenn Stevens said in a speech today. “They can, and they have.”
“We should never say a crash couldn’t happen here, and the Reserve Bank continues to monitor property markets and the performance of mortgages quite closely,” said Mr Stevens………………………………………..Full Article: Source


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