Josh Sigurdson talks with author and economic analyst John Sneisen about the inevitable fall of the Australian housing market as some markets see an annual decline of as much as 15% with Melbourne falling 10% and Sydney falling 10.9%.
Some economists warn that we will see the market dip further to 20%, others say 25%.
This was expected and we warned of it for years as people disregarded us and claimed that there was still a lot more room to grow. The market was heavily manipulated and one simply cannot forget the RBA, the Reserve Bank of Australia, their central bank. When you print vast amounts of currency, it doesn’t take a genius to realize there will be consequences.
John talks about their cashless future, their M3 money supply and their interest rates and how this will affect Australians going forward.