More SMSF property bubble warnings

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From the AFR:

Ian Martin, a panel member of the Cooper review into Australia’s superannuation system and a former chief executive of BT Financial Group, has called for a review of real estate purchases within self-managed super funds, saying he has concerns about potential excessive house price rises.

…“I think that’s a concern and that’s one reason why I would advocate some sort of review, just to make sure that you don’t have the combination of excessive behaviour and poor selling practices that are resulting in distorted asset allocation in self-managed super funds.”

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.