Flying Circus: Housing bears "shitting themselves"

From the Flying Circus today:

New home buyers to get cash grants – housing bears shitting themselves https://t.co/dtZDY1uEyi

— christopher joye (@cjoye) May 31, 2020

Guess who’s long bank hybrids then?

I note that the housing package will be jobs supportive so that’s good for housing in a general sense. A few renos will do it no harm.

But more supply isn’t. And I’m pretty sure that the Flying Circus would have felt more than a pang of disappointment that the grants do not encompass established dwellings.

I remain bearish as rents crater along with mortgage standards tightening, weak immigration and high unemployment.

It’s more accurate to say that poop is spraying generally from the direction of the Flying Circus.

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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.

Flying Circus: Housing bears “shitting themselves”