Seller Strike, Buyer Strike
The solid new trend of falling house prices is confirmed by the ABS today with real prices now in retreat for seven quarters and the downward path accelerating.
Tag boom-bust
Nine Quarters of Weak Land Sales
Australia has experienced nine quarters of falling land sales volumes with the last five quarters flatlining forty per cent below long term averages. The big falls in prices we have been predicting are now a certainty.
The Sunshine State at Sunset
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?
Don’t Buy Now! campaign saves buyers $58,000 in one year
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…
House prices are falling – somewhere else
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.
Prosper sees property price falling 15%, perhaps 20% in 2012
23 February 2012 • Potential First Home Buyers wary of commitment • Volume of stock for sale a swollen flood • Consumers dis-leverage Australia-wide • Banks unwilling to finance credit creation Prosper Australia predicts substantial house price falls this calendar…
Housing bubble trouble: separating facts from fiction
Reprinted from academic e-zine The Conversation In a previous article, I analysed four of the common arguments used by those who deny there is a bubble in Australia’s residential property market. The bubble deniers have employed other explanations for the…
A New Year’s Resolution – Don’t Buy Now!
The Australian property market ended 2011 on the ground in a foetal position after a serious assault by Harsh Reality. Symptoms include: • A year’s supply of unsold houses on the market • Low and falling building applications • Low…
Change or suffer
Australian land prices are falling. They will continue to fall until their fundamental economic link to incomes and rents are fully restored. Many with large mortgages will be crushed by these towering liabilities when their equity is erased. This claim…
No more levers to pull
photo credit: Elsie esq. Australian property prices are so over-valued their return to the long term trend will make the painful bubble burst in the USA look like a child’s picnic. Government, major banks and property speculators used every tool…