The Don’t Buy Now! campaign urges the landless not to buy real estate until prices reset, just as they have in the countries we compare ourselves to. Property is grossly over valued measured against earnings or the rental income it…
3 July 2012 ABS Census data just released shows 1.1 million fewer households and 595,000 fewer houses in Australia than previous estimates; Morgan Stanley researchers calculate Australia now has a 341,000 OVERSUPPLY of houses. The Census revision obliged National Housing…
13 June 2012 Victoria Planning Minister Matthew Guy has made big land price falls on Melbourne’s outskirts a certainty with his extension of the metropolitan boundary by around 7000 hectares. “The gaping chasm between developer supply and buyer demand has…
As the Fairfax papers reported on April 14, the NSW government has rejected yet another recommendation to replace conveyancing stamp duty by a broad-based land tax. That is the effect of the “stamp duty replacement tax” recommended on page 13-4 of…
If BoQ writes big losses and needs capital due to land price falls so far, what shape will the bank be in when the big corrections start?
Philip Soos notes eight of the nine substantial property price increases over the last 131 years have resulted in a decline. He can't see why the largest increase on record would not precede another drop now. Soos does not buy the argument that Australia is suffering from a "chronic housing shortage", saying property prices have continually experienced boom-bust cycles regardless of population growth.
From the Canberra Times 5 April 2012. Your article “Capital’s housing prices highest in the country” (April 3, p1) was missing one very important word – land. As we move toward Canberra’s centenary celebrations it is time to reflect on…
On Monday the Real Estate Institute of Victoria made public its submission to the Victorian Government on the framing of the state budget. They are big-hearted enough to call for an end to the First Home Bonus – a ‘gift’…
28 March 2012 Young homebuyers who took Prosper Australia’s advice – Don’t Buy Now! – exactly a year ago have typically saved themselves $58,000. “I congratulate everyone who stood aside from this dreadful Ponzi scheme known as the Australian property…
The land market is totally ‘gamed’ by spruikers spouting charming but misleading anecdotes and snippets of information, merely to foster ‘confidence’ and keep the mammoth Ponzi scheme going – even in a falling market.