'Get your affairs in order' may have been better advice, but no matter
;-)
Local press here on Australia on a report from the OECD released Monday, the Paris-based think tank. Cautioned the Federal government to start planning now for a house-price induced downward spiral
- "if house prices collapse consumer spending could suffer, via negative impact on wealth including from exposures to bank shares, which would encourage deleveraging
- Together with reduced housing-related expenditures, this would put pressure on the whole economy."
- OECD believes the Australian property market will make a "soft landing", even it concedes they are "rare"
