Pesek: Hockey's dismissal of the property bubble smacks of hubris

Pesek: Hockey's dismissal of the property bubble smacks of hubris. William Pesek, a columnist from Bloomberg View wades into the Aussie Property bubble debate. Pesek visited Sydney last week and had the chance to directly question Joe Hockey on the subject. When I asked Hockey point blank whether Australia faced a huge property bubble, he dismissed the entire premise out of hand. Pesek says There's something dangerously wrong when Australia's top economic official is blowing off fears of asset bubbles and heightened leverage. Hockey's acerbic dismissal of the danger smacks of hubris. Home prices are seen rising between 8 percent and 12 percent in 2015 in Sydney and roughly 9 percent across Australia's major cities. How can that make sense, in an already frothy market? (VIEW LINK)