Day 22 💰💰💰🏡⚠️

“At the time, the International #Monetary #Fund (#IMF) had just released a staff report on Australia's economy which contained this graph of Australian house prices. It shows how #PropertyPrice #inflation had really accelerated in the early 2000s (in real terms, once inflation had been taken into account), which explains why people were so worried.

The index of real property prices in major #Australian #cities jumped by 46 per cent between 2000 and 2003. (Source: International Monetary Fund, Australia, Staff Report for the 2003 Article IV Consultation, September 3, 2003.) In its report, the IMF noted that investor demand was contributing to the property price increases. It said that was understandable, because the expected returns on housing were far outstripping returns on other assets in Australia in the early 2000s.”

"Consequently, by the end of 2002, investor housing accounted for 30 per cent of the stock of housing loans, compared to 18 per cent a decade ago,"

Australians are being played for mugs by the *Investor Class.*

#AusPol / #LNP / #Liberal / #Nationals / #Labor / #HousingCrisis <https://www.abc.net.au/news/2025-04-20/when-housing-turned-toxic-captured-in-talkback-chat-with-pm/105155458> / Original transcript <https://pmtranscripts.pmc.gov.au/release/transcript-20920>