Outlook rosy for WA

THOSE boffins at Access Economics certainly know how to use a media release to grab attention when it’s time to promote their latest business outlook publication. There are plenty of gems in the firm’s latest release, but The Note’s favourite is this economic observation about our sometimes rival in the east: "NSW is so sick that it is at risk of adoption by Angelina Jolie." Western Australia receives some glowing commendation in the actual report, with the comment that the state’s "share of the national engineering total is simply Bradmanesque." But the report has some words of caution for those caught up in the moment. "Those of you old enough will know that now is the time to dunk your head in a bucket of ice water. Booms are not merely rare, they are also fragile." And while they call the boom "magnificent", they follow it up with the following statement: "We expect Perth’s housing prices to come a cropper soon, with years of grinding regret lying ahead before housing prices and fundamentals align once more."