“When even shoeshine boys are giving you stock tips, it’s time to sell” – reputed quote from Joseph P. Kennedy.
Remember, it was “shoeshine boy” Peter Costello who presided over the first half of Australia’s land price bubble without doing anything at all to keep a lid on it.
So, now it’s about to end, Peter? And you’re almost far enough away in time to get off scott free, eh?
You have to give Costello 10 out of 10 selling the FHBG and igniting the greatest property bubble in history.
Who else could raise house prices on new homes overnight by introducing a 10% GST tax then return this same amount back to those who just paid it and call it a ‘money for nothing’ grant.
But the public fell for it and thought he was a genius.