ERROL PARKER | Editor-at-large | Contact
The Reserve Bank Governor has laughed off claims that the organisation has caused a giant housing bubble by telling reporters they should really be spending more time buying houses.
“You should really buy a house,” said Phillip Lowe, a polite robot that is programmed to do what banks, business and government tell him to do.
“If you can afford one house, then you can afford another house. Even if you can’t afford it, just speak to your lender and get more money at these record low-interest rates. Then when you’ve got two houses, why not get a third or fourth?”
“You don’t want to miss out, do you? You really have no excuse if your parents have a property asset in a major capital city. Leverage it. As them to go guarantor. Just do it,”
“If you’re renting, then it’s obviously from intergenerational laziness.”
When asked by a reporter how many houses he owned, Mr Lowe said he owned 740.
“And they’re all mine! [laughs]”
More to come.
