Sparkling journalism today at Flufferfax:
ANZ chief executive Shayne Elliott said talk of a housing bubble was simplistic, as the bank published figures showing more people were repaying their home loans on time than two years ago.
Speaking on the day the Melbourne-based bank reported a below-expectations $3.4 billion cash profit for the six months to March, Mr Elliott said, with great variation between and within city residential markets in Australia, the greater issue was about housing affordability.
“It’s a little simplistic to say ‘There’s a housing bubble’,” Mr Elliott said in an interview published online by ANZ. “Where there’s an issue, there clearly is an issue around housing affordability. And in particular, for people who are coming new to the market to be able to afford to get a deposit together. So there are some challenges in the business.”
In other news today a headless man declared that he has no head.
