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.

If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!

See you in the episode!



Episode Highlights:
What Economics professors get wrong [02:36]
The determinant of change in property prices [06:16]
On measuring household debt [09:01]
Why first-home buyers are vulnerable to rising debt [14:09]
What can trigger a price crash, aside from a debt crisis? [18:50]
How the government can stimulate property demand [20:27]
Getting inflation under control [23:56]
The possibility of a property crash in Australia? [28:45]
Steve’s Senate election pitch: money creation [32:59]
The need for a modern debt jubilee [35:37]
The current state of consumer confidence [38:14]
The issue with government debt [40:44]
Sustainable long-term solutions to housing [53:54]
The economic impact of climate change [57:34]



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. 



Links from the show:
Steve Keen TNL Housing Policy: https://bit.ly/3PvH1dn
House prices to fall 40%. Prof Keen says RBA is 'brain dead': https://bit.ly/3T4JHBY
Steve Keen's Debtwatch: https://bit.ly/3QS7gvz
Steve Keen’s Profile: https://www.keenforthesenate.com/



Connect with Us:
Looking for a Sydney Buyers Agent? www.gooddeeds.com.au
Work with Veronica: https://linktr.ee/veronicamorgan
Looking for a Mortgage Broker? www.wealthful.com.au
Work with Chris: hello@wealthful.com.au
Send in your questions to: questions@theelephantintheroom.com.au



Find this episode on our website:

https://www.theelephantintheroom.com.au/podcasts/243



If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

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.
If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!
See you in the episode!
 
Episode Highlights:
<ul>
<li aria-level="1">What Economics professors get wrong [02:36]</li>
<li aria-level="1">The determinant of change in property prices [06:16]</li>
<li aria-level="1">On measuring household debt [09:01]</li>
<li aria-level="1">Why first-home buyers are vulnerable to rising debt [14:09]</li>
<li aria-level="1">What can trigger a price crash, aside from a debt crisis? [18:50]</li>
<li aria-level="1">How the government can stimulate property demand [20:27]</li>
<li aria-level="1">Getting inflation under control [23:56]</li>
<li aria-level="1">The possibility of a property crash in Australia? [28:45]</li>
<li aria-level="1">Steve’s Senate election pitch: money creation [32:59]</li>
<li aria-level="1">The need for a modern debt jubilee [35:37]</li>
<li aria-level="1">The current state of consumer confidence [38:14]</li>
<li aria-level="1">The issue with government debt [40:44]</li>
<li aria-level="1">Sustainable long-term solutions to housing [53:54]</li>
<li aria-level="1">The economic impact of climate change [57:34]</li>
</ul>
 
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. 
 
Links from the show:
<ul>
<li aria-level="1">Steve Keen TNL Housing Policy: <a href="https://bit.ly/3PvH1dn">https://bit.ly/3PvH1dn</a> </li>
<li aria-level="1">House prices to fall 40%. Prof Keen says RBA is 'brain dead': <a href="https://bit.ly/3T4JHBY">https://bit.ly/3T4JHBY</a> </li>
<li aria-level="1">Steve Keen's Debtwatch: <a href="https://bit.ly/3QS7gvz">https://bit.ly/3QS7gvz</a> </li>
<li aria-level="1">Steve Keen’s Profile: <a href="https://www.keenforthesenate.com/">https://www.keenforthesenate.com/</a> </li>
</ul>
 
Connect with Us:
<ul>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="https://linktr.ee/veronicamorgan">https://linktr.ee/veronicamorgan</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/">www.wealthful.com.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@wealthful.com.au">hello@wealthful.com.au</a> </li>
<li aria-level="1">Send in your questions to: <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a> </li>
</ul>
 
Find this episode on our website:
<a href="https://www.theelephantintheroom.com.au/podcasts/243">https://www.theelephantintheroom.com.au/podcasts/243</a>
 
If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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