Some more choice comments on the Australian housing market, this time from global fund management company GMO, which oversees some US$82 billion of assets. Chairman Jeremy Grantham predicts the worst here: “I was happily quoted in the Australian Financial Review as saying that the Australian residential real estate market could be the canary in the coal mine – that is, a harbinger of bad things to come for a lot of us,” Grantham says. Fine for a visiting banker to be so blasé, but what happens to the locals in a smallish regional economy if the bad times hit?
The Bubble Hall of Fame
Some more choice comments on the Australian housing market, this time from global fund management company GMO, which oversees some US$82 billion of assets. Chairman Jeremy Grantham predicts the worst here: “I was happily quoted in the Australian Financial Review as saying that the Australian residential real estate market could be the canary in the […]
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