With interest rates, mortgage debt, and housing prices rapidly surging, many Australians wonder whether and when the bubble is going to burst…
The question is: how can property remain affordable without causing a price crash, especially when two-thirds of the population are owner occupiers?
Known critic of modern economic theory Steve Keen joins us today to reveal everything mainstream economists get wrong about the property industry. He shares his insights on the possibility of a property crash and how first-home owners might be vulnerable.
We also discuss the rising level of household debt, what it can ultimately result in and how the government can intervene.
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Episode Highlights:
About our Guest:
Steve Keen is a heterodox economist and an author. His two most famous books, Debunking Economics and The New Economics, are both critiques of modern economic theory that discuss debt deflation and financial instability. Dr. Keen was a professor at the University of Western Sydney and Kingston University in London. Now, he is leading the development of Minsky, a software platform for visually modeling national economies.
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