ABS House Price Update Today

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The ABS pub­lish­es its house price index data today. My lead­ing indi­ca­tor for this is the Mort­gage Accel­er­a­tor, and it implies anoth­er increase in prices—and the first sign of ris­ing real prices on an annu­al basis since ear­ly 2011. But there’s also a turn­around devel­op­ing in mort­gage accel­er­a­tion which implies that the rate of increase will top out at a much low­er lev­el than the 2008 and 2010 booms.

I’d like to post a fig­ure here, but as usu­al there are has­sles with the ISP! Check on Twit­ter for the graph­ic.

Fig­ure 1: Before the release of ABS data on May 7 2013

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.