Australia must end its unhealthy love affair with real estate if it is to unlock productivity and grow the economy, National Australia Bank chief executive Andrew Irvine warned.
Appearing before the House Standing Committee on Economics, Irvine said he was surprised by “the national obsession” of housing when he arrived in Australia six years ago, arguing it had created giant distortions in the local economy. Irvine is a British-Canadian dual-citizen.
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