Stiglitz to Piketty: its the land!

by on December 19, 2014

  Joseph Stiglitz’s recent interview with Lynne Parrymore of the Institute for New Economics demonstrates the difference between land and capital: My paper begins with the observation that in fact, you cannot explain what has happened to the wealth/income ratio by that (Piketty’s) analysis. A closer look at what has gone on suggests that a […]

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OECD’s Housing Concerns

by on December 18, 2014

Yesterday’s OECD Economic Survey of Australia pinpointed key areas of risk.   As Philip Soos and Paul Egan showed today in their 21 chart pack, Australia’s land bubble and accommodating credit cycle opens the economy to incredible risk. But the Abbott government has yet to even add housing affordability to their todo list. The OECD’s no1 […]

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Soos and Egan – Australian Property Chart Pack

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  By Philip Soos and Paul D. Egan This chart pack presents the latest statistics for 2014, updating the dataset provided earlier last year. When adjusted for inflation and quality, housing prices have boomed nationwide since 1996, hitting a peak in 2010, before undergoing a slight fall and rise. On current trends, a new, higher […]

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Fifty grades of shade: A story of enclosures, power and native title

by on December 17, 2014

By Cameron Murray Romance novels seduce you into feeling for their characters, drawing you into their exhilarating world where eventually, and predictably, the protagonists overcome their seemingly intractable obstacles and are united together. The story of property and power, the fifty grades of shade, unfortunately never reaches such a resolution. This story is much more […]

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Value Capture trumps Tolls

by on December 11, 2014

Yesterday’s press release was quoted in The Age article Pay Up: Grand Plan to get big projects built. After quoting the soft option of tolling drivers, which has failed spectacularly as a financing mechanism in NSW and QLD, the article moves on to quote the RACV’s Bryan Negus: RACV public policy head Brian Negus said […]

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Funding Melbourne’s new underground rail link

by on December 10, 2014

Media Release “The Andrews government has lost no time putting its stamp on the future shape of Melbourne, funding the planning stage of the Melbourne Metro Rail tunnel – while fretting about the $9 billion cost. “Victoria can fund this vital connection, lifting train speeds and frequency throughout the network,” Karl Fitzgerald Project Director, Prosper […]

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Schroders: A-REITs will cost you

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Schroders has a paper out on Australian real estate investment trusts (REITs) A wolf in REIT’s clothing that should have every RE executive checking the polish on their shoes. David Wanis is as dour as a parson, predicting a ~1.6% return for each of the next three years. His assessment is based solely on the […]

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Sydney Swans and Melbourne Demons

by on December 5, 2014

What passes for analysis or commentary on property matters in Australia’s media is bloody woeful. Robert Gottliebsen is out this morning on Business Spectator Why Sydney won’t mirror Melbourne’s apartment glut supposedly comparing Sydney and Melbourne apartment markets. The piece deserves a good kicking. Australia’s two largest inner city apartment markets are developing in vastly […]

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Vic Govt need for policy integrity

by on December 2, 2014

The new Andrews Government provides a fresh opportunity for reviewing the role of state revenues. The current property bubble has provided a windfall in Stamp Duty revenues allowing for considered reform. The hot topics the State government must address to enhance its policy integrity include: the leasing arrangement for the Port of Melbourne the role […]

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The FIRB’s new milk teeth

by on November 27, 2014

The report of the parliamentary committee inquiry into the Foreign Investment Review Board is out. The inquiry has been conducted with great fanfare to edify the Liberals’ rising star and  MHR for Higgins Kelly O’Dwyer. And what are its findings, once the party-political propaganda is removed?  A national register of land title transfers that records […]

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