Business
The housing bubble goes global – The Australian Financial Review
As central banks have slashed interest rates to historic lows, house prices in the advanced economies are rising at their fastest clip in more than a decade.
As Reserve Bank boss Philip Lowe has consistently pointed out, lower interest rates push up asset prices, including house prices.
Whats more, banking systems around the world are in much better shape than they were in the wake of the global financial crisis, which means that financial institutions have sufficient capital reserves to lift their lending to households.
In contrast, the financial crisis left many banks nursing hefty losses, which crimped their ability to lend for housing.
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