This UBS report doesn’t surprise us and is even more reason for honest, smart buyers like ours to hold the line as these liars (a) run out of lies &/or (b) get exposed.
If the 44% to 53% clearance rates now coming in from some major inner city agencies for last week are any guide, both (a) and (b) are already happening.
Being against those agencies’ interests, such clearance rates are likely reliable.
They are also staggeringly different to the clearance rates you read in mainstream media and give a truer picture of what’s really going on at the coal face: http://www.smh.com.au/business/banking-and-finance/ubs-says-500-billion-of-mortgages-based-on-lies-20170911-gyez9a