Chris Joye is a joke. I don't understand how anyone can take him seriously.
Take his blog above:
"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."
It's extremely deceptive how he tries to compare his 4.6 figure to the 7.5 quoted by Grantham, why reintroduce his 4.6 in this paragraph anyway? They are not derived using the same figures so why compare them as if like for like and one is wrong?
"It represents the total disposable wage and investment income generated by all members of the household and should not be confused with simpler estimates of average wages or median incomes."
So a couples young son who works at his local Maccy Ds, his income should be included in these figures? Doesn't seem right. He's not contributing to household expenses in all likeliness.
