Good old Aussie John - one of the biggest beneficiary of home...

Good old Aussie John - one of the biggest beneficiary of home lending in Australia has dismissed concerns of a housing bubble.

Personally the vested interest this guy has in the Australian housing story means I would not trust a word he says. He is the last person on earth who will tell you that property is in trouble.

His logic is so twisted that he states that Glenn Stevens has been asleep at the wheel - as though the sole purpose of interest rate policy is to increase house prices!


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http://www.smartcompany.com.au/property/052343-john-symon-dismisses-housing-bubble-threat-says-market-has-bottomed-out.html

'Aussie Home Loans boss John Symond has dismissed concerns of a property bubble building in Australia and says the housing market has reached 6.30 on the property clock and is on the road to recovery.

Speaking at an Australia-Israel Chamber of Commerce function in Brisbane this week, Symond slammed the monetary policy decisions of the Reserve Bank, accusing the current board, led by RBA governor Glenn Stevens, of being “asleep at the wheel”.

“I am confident, notwithstanding a lot of hype from offshore analysts about a housing bubble, of Australia’s fundamentals,” Symond said in a speech reported by the Australian Financial Review.....'