.....Will it be resolved by an improvement in business investment because of the global green shoots or by a housing downturn caused by rising unemployment, the end of first home-buyers grant and tighter home lending?
That, of course, is the big question. I suspect it will be the latter, but then two years ago, like many, I found the property bears' predictions of a house-price slump convincing. These arguments, for Australia at least, now look to be completely wrong.
