love it...here's the link to all the great OS bear fuss...all CONNECTED! Good on ya C Joye, expose the nuts.
"As a final thought, let me address Jeremy Grantham’s spurious claims. First, I cannot locate any GMO research on the Australian housing market. The single statistic Grantham quotes is that Australian house prices are 7.5 times family incomes. This is categorically false, as we and the RBA have demonstrated with independent analysis. The best current estimate is that Australian dwelling values are 4.6 times disposable household incomes.
When I logged on to the GMO website, the only reference to Australian house prices I could find is in a Financial Times article by an employee by the name of Edward Chancellor. Chancellor in turn attributes his views to this discredited Demographia work and Associate Professor Steve Keen. Yes, you see what I am saying. This is a classic game of intellectual pass-the-parcel. From Grantham to Chancellor to Steve Keen abetted by Demographia. Need I say any more?"
no need, all in house and independant research by the look of it - LOL!!!!!!!
and I repeat "abetted by Demographia" say no more indeed.
