"Mr Chronican did not subscribe to the view that the Australian housing market was a bubble waiting to burst"
"He also highlighted housing as an "excessive concentration risk" for the economy given Australians have as much as 60 per cent of their total wealth tied up in real estate - one of the highest rates in the world and more than double the rate of the United States.
First he says there isnt a bubble, then a few lines later he defines our RE in classic bubble terms
If this is what is running our banks we are in trouble
