Pete Wargent blogspot

PERSONAL COACH | PROPERTY BUYER | ANALYST

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Markets & Economics Editor, Business Insider.

'I've been investing 40 years & still learn new concepts from Pete; one of the finest commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate & most comprehensive analyst I follow in Australia' - Jon Tepper, Variant Perception, 2 x NYT bestseller.

Sunday, 11 March 2018

Second-chance Sunday

No second chance

Jordan Eliseo, Chief Economist of ABC Bullion, asked me a question about historical house prices this week, which caused me to pull up on old Macquarie Uni paper from their Department of Economics (Abelson/Cheung).

Their figures were carefully pulled together from various sources, including Census data, the REIA, CBA, the Productivity Commission, Applied Economics, the Department of Housing, the Department of Land, VG, and the Housing Industry Association (HIA).  

Here are their median house prices by Australian capital city from 1970 to 2003. 


And median unit prices for the same period.


I was reminded of a well-known and logically argued article by The Money Illusion's incomparable Scott Sumner 'Bubblemongers don't get a second chance'. 

Take a read of it, carefully.