When is a correction not a correction? When it’s in the AFR
A lot can happen in 24 hours in AFR-land.
Why, it was only on Friday that Dr Mumbo was encouraged by picking up the Financial Review and learning that all is well in the housing market.
AFR: Housing correction to be ‘orderly’
It would seem that we are not in a housing price bubble.
Repeat: WE. ARE. NOT. IN. A. BUBBLE.
By Saturday though, things had taken a turn for the worse.
AFR: Housing correction ‘won’t be orderly’
Dr Mumbo is anxious to find out what Monday might bring.
AFR news strategy is adventurous. First pose a thought: maybe TPG will buy us? Then fill some space: how and why TPG will buy us. Then speculate on whether it’s a goer: yes/no/yes/no… Then declare that the AFR was too successful: FFX share price has risen so the thought bubble has evaporated! We move on….to housing bubble?
Reminds one of the editorial award at the AFR staff Xmas party of yesteryear: The Light at the End of the Tightrope Award. (Named for the work of the current Fairfax CEO)