Economist WARNS: ‘The Floor Has Come Out Of The Housing Market’

Australia’s economy is heading for a major reckoning – according to economist Leith Van Onselen. This week on Karl Weekly, Karl Stefanovic and Leith Van Onselen unpack Labor’s controversial tax changes, the housing market slowdown, rising interest rates, unemployment fears and the growing pressure on small business owners and startups. Will Australia face its biggest housing correction in 40 years? Why are investors suddenly borrowing less? Are entrepreneurs and startup founders being punished? And has Australia become what Leith calls a ‘sinkhole economy’? Leith warns the housing market floor has ‘come out’, says these tax changes are ‘a tax on entrepreneurship’ and argues Australia is now in ‘managed decline’ unless major reforms happen. From housing affordability and migration to productivity, taxation and the future of the Australian economy, this is one of the starkest economic warnings yet on Karl Weekly. A big thanks to Tanda for their support of Australians and The Karl Stefanovic Show. If you employ people in this country, go to http://www.tanda.com.au