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The Australian Housing Market: The Wife Maker
The Australian housing market has been very fertile ground for lots of headline grabbing forecasts over the years, especially around claims that it's a bubble. And I always wondered whether given the nonstationarity of these time series, like so many of the parameters have changed over the decades, we've spoken about many of those changes. What classifies in your opinion as an appropriate forecast? Like, what is something that is intellectually defensible when it comes to a prediction about house prices? You can probably do that with some value. But I think the value only comes from spelling out the channels and your view on them.