Warren Hogan

I'm not sure, but I think it's worth observing.

And the big one for me really is the United States right now.

Yeah, and don't bet against our housing market.

You know, I worked in banking in terms of the big four at ONZ and at Westpac when I was early in my career.

And I spent a lot of time in the first 20 years of this century trying to explain to people all around the world, particularly overseas, why the Australian housing market wasn't about to fall into a massive hole.

And there's lots of reasons for it, not least that our country is extremely successful economically to this day.

But also, you know, we have certain characteristics of our housing market that are important to never forget.

And the one is we never have enough houses.

And that is critical to the prospects of any downturn.

We're going to get a downturn in the housing market.

There's no two ways about it.

But I don't think it's going to be the disaster that some worry about.

There's certainly going to be a significant price adjustment in some markets in the back half of 22 and into 23.

But we are a resilient economy.

We're generally well managed.

We tend to not see it so much onshore, but we are.

And our housing market is a lot more resilient than many think.

Yeah, and it's very hard to get data on this.

And it is obviously something that's become a lot more prominent.

There was a clear wave of first home buyers entering the market at the start of the pandemic.