I was in a writing mood, but SOOS Vs WARGENT have done all of the work for me!

Firstly, I really do need to thank Pete Wargent for saving me a hell of a lot of time in forming my own opinion regarding the recent article written by Philip Soos. I have a great deal of respect for the views and commentary Pete Wargent publishes on a regular basis.
Philip Soos is a Masters research student at the School of Humanities and Social Sciences, Deakin University, working towards a doctorate in political economy. He holds MBA and IT degrees from RMIT University and Swinburne University of Technology, respectively.
Here is where you will find his recent article http://www.macrobusiness.com.au/2013/02/the-history-of-australian-property-values/. Now, I do need to mention that back in July 2012 I did report on some of the findings from the cencus data that was collected in August of 2011 on Real Estate News - Sky Business. In fact Philip Soos said at the time "the 2011 census revealed Australia had 7.8 million households, 900,000 fewer than the NHSC’s figure, with population also growing by 300,000 fewer than previously estimated. These figures have come as such a shock that the NHSC chairman has reported that an undersupply could be incorrect".
  http://www.realestnews.com/html/ep185_7.html
 However, I have always said and I firmly believe that common sense will always be the best barometer there is. With findings that suggest there are 900,000 fewer dwellings than previously estimated, we would have seen a huge correction in the property market by now. Of course, this has not happened.
Enough from me. Take it away Pete Wargent! http://petewargent.blogspot.com.au/

Enjoy,

Iggy 

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