| Despite Australian’s love affair for residential property, Australia’s housing market might just be losing friends at a faster pace than Facebook. The latest loss is the Reserve Bank of Australia, after governor Glenn Stevens said on Friday it should not “engineer a return to a housing price boom.”
Speaking in Adelaide to the American Chamber of Commerce Internode Business Lunch, Stevens said he believed the household sector could be the reason behind such low levels of confidence, especially after Wednesday’s ABS posting of a “quite respectable” 1.3 per cent rise in GDP for the March quarter...............................................Full Article: Source
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