Steve Keen the Property Prophet predicts doom and shows why.
Unconventional prophets are often vilified, particularly in their own country.
Steve Keen is no exception. He is one of only a handful of academic economists to contest the rah rah rah of the property spivs who claim – wrongly and misleadingly – that real estate prices move in just one direction.
Keen is regularly sought as a speaker and commentator by overseas media. You are unlikely to hear from him within Australia.
For an unbiased, clear and factual explanation of where the property market is, check his House Prices Are Not Normal.
And see my recent post on Reserve Bank Governor Glen Stevens’ dour warning on property speculation at the top of the market.