The Royal Commission's Report on Responsible Lending

In April 17, I wrote a column declaring the boom over and I forecast that house prices would experience the biggest ever fall on record of circa 5 to 10%. Now this was before the Royal Commission. At that point, you know, it was a toss of the coin between the two political parties. And my view has been that if labor is elected and they remove negative gearing and increase capital gains tax by 50%, house prices will fall appreciably more than the alternative. My 15, 10 to 15% view in its 15% if lab becomes a power is a national view. That basically means that Sydney prices will have fallen circa 20%. So that's a big deal. The US housing market