Stevens firing off warning shots to property investors now:
- household debt pretty high
- asking for trouble if household debt steps up
- people need to be aware home prices can also decline
Adds:
- Federal Reserve not likely to raise rates until late in 2015
And:
- Biggest threat to housing affordability is price surge
- Does not know how long rates stability will be
- Does not see need for lower rates at the moment
Earlier comments from Stevens are here:
RBA governor Stevens: Sees period of stability for rates … AUD still high by historical standards
RBA governor Stevens (2): Hopeful unemployment will not rise too much further
