AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Easy Credit Is Not Sufficient for Explaining Land Bubbles
I can't imagine a land bubble happening if there's no credit. Buyers, I think, correctly got understood that supply was relatively abundant. We were building huge numbers of suburbs and the prices stayed relatively constant. So it's really not enough just to have extra credit. You need to have something which creates a credible narrative"