David Taylor

So I don't like it.

I don't like it at all.

What do you think?

Yeah, I think so.

And what I'm about to say might be very controversial, but I'm going to say it anyway.

I don't think that in the next six, 12 months that supply will have anything to do with the Australian property market.

I think that there is every chance that Donald Trump will find an off ramp.

The Iranian oil crisis will come to a close and it will take months, weeks, if not months, for things to sort themselves out and come back to normal.

It's a real prospect.

It's a real possibility.

Alternatively, this doesn't stop.

The price of oil will skyrocket.

Inflation will skyrocket.

And central banks and governments will have absolutely no idea what to do.

And they will, you know, at the margin, try and help people with limited firepower.

But in that sort of situation, you don't just have an inflation going to 5% or 6%.

You have unemployment going to 5%, 6%, 7%.

And with the high unemployment rate, it's kryptonite for markets.

So I can see, for the first time in a generation, a scenario.

I'm not saying this is going to play out.