‘Gravity’ catching up with housing market

Gravity may well have caught up with the “stupidity” surrounding house prices, prominent economist Chris Richardson says.

But Mr Richardson warns that this, in turn, will further slow the pace of home building, which in recent years has propped up the broader economy.

This slowdown in home building comes at a time when production has weakened with large gas projects reaching completion and Cyclone Debbie’s havoc across north-east Australia. 

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