herald

Sunday 24 September 2017

Aussies rubbish McWilliams' crash warning

The outspoken economist, who has written at length on the Irish property market crash, said earlier this month that Australia's "housing market looks like it will be the last great housing boom to go bang in a great, rolling, global-housing boom/bust cycle".

The reason the Australian market had managed to keep going was China, but a slowdown was already there, he claimed.

"We know from our experience here in Ireland that housing markets do not correct in an organised fashion. There is never a soft landing," he said.

But his comments were not well received down under where property had not gone as out of control as here.

mlavery@herald.ie

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