Households have record-high expectations for home price increases over the next five years, according to Torsten Slok from Apollo Global. This extreme bullishness also extends to the equity market, making the economy more vulnerable if asset price inflation stops or reverses. In the US, home prices have already hit a record high. Meanwhile, in Australia, Sydney home values climbed to a record in June due to strong demand and low supply, despite high borrowing costs. Home values in Australia increased by 0.7% in June and 8% over the year, with the median value rising by $59,000 in FY24, according to CoreLogic.
Another solid month of dwelling price growth in June in all major capitals outside of Melbourne where government policy is restraining the market. https://t.co/uEBIN4PJTz
Sydney home values hit a record in June. Read today's Australia Briefing, by @ainsley_thomson, for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/An57TdTxxN
Home values +0.7pc in June and +8pc over the year Median value increased +$59,000 in FY24 (CoreLogic) #ausbiz https://t.co/ghULlnrDc3
Sydney home values climbed to a record in June as strong demand and low supply levels overshadowed increasing pain from high borrowing costs https://t.co/71eBfgJCuz
⚠️ AUSTRALIA HOME PRICES KEEP CLIMBING ON TIGHT SUPPLY Full Story → https://t.co/sfRLXk3nqa https://t.co/VlI8nIEXSp
US home prices hit a record high https://t.co/yHjSJSEl2B
Households extremely bullish on future home price appreciation https://t.co/KDkN9Sot7s
'Households have record-high expectations for how much home prices will be going up over the coming five years.' https://t.co/reY3xrWdkX by @apolloglobal https://t.co/zrjwENgh6C
“Households have record-high expectations to how much home prices will be going in 5 years & are very bullish on the equity market. Extreme bullishness about home prices & stock prices makes the economy more vulnerable if asset price inflation stops or reverses.” @apolloglobal https://t.co/duicZWwIln
Households have record-high expectations for how much home prices will be going up over the coming five years -Torsten https://t.co/2VDgDOnW85 https://t.co/3qcwtPVhFl