While prices in the Australian property market have, at times, surged to bubble-worthy levels in recent years, they have recently cooled off, igniting a flurry of worry over whether a crash in the housing market is imminent. ECRI’s latest report, based on its forward-looking Australian Leading Home Price Index, clarifies the cyclical direction of home prices in the months ahead.
The convergence of two cyclical patterns virtually dictates an era of more frequent recessions in developed economies. As a result, and because of the Bullwhip Effect, growth in developing economies is going to be jerked around more than people think, making for a good deal of cyclical economic contagion. In other words, we are now in the yo-yo years.
A measure of future U.S. economic growth rose modestly last week. More
ECRI principals will be in Toronto to meet with professional members on April 30, 2012.
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