Australian Treasury Secretary: Unequivocal proof of a housing bubble in Sydney

FXStreet (Bali) - Australian Treasury Secretary John Fraser is speaking in front of a parliamentary committee, noting that he sees unequivocal proof of a housing bubble in Sydney, Bloomberg reports.

Fraser also said, via Bloomberg, that forecasts point to significant economic headwinds, and that non-mining businesses are reluctant to commit to investment. On the flip side, Fraser said that "the budget assumption of iron price at $48 does leave an upside risk for nominal income growth."