I have a question for fellow HC-ers following an article in today's Australian Financial Review.
My question is whether houses are a "fabricated source and store of chimerical wealth"?
The reason I ask is because of an article on the Royal Commission in today's AFR which states:
The inquiry had exposed how the mortgage product had evolved from a means to afford a home to "a high-return financial-credit product which fabricated both a source and store of chimerical wealth"
(The article is titled 'Ban ex-regulators from bank boards' for anyone interested.)
