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No risk of housing bubble forming in Australia: Treasury economist David Gruen

Posted on 19 October 2012

The threat of a bubble building in the Australian housing market has been dismissed by senior Treasury economist David Gruen. Gruen, executive director of Treasury’s macroeconomic group, says there is no danger of a housing bubble because of Australia has an undersupply of homes unlike other major economies, which have built too many houses.
The housing bubble debate has received fresh oxygen of late with senior industry figures warning about the threat posed by rising house prices including ANZ Bank Australia CEO Phil Chronican and Barry Brakey head of property at the Future Fund………………………………………..Full Article: Source


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